Gold Spot / U.S. DollarUpdated XAUUSD 1H BIAS MODIFICATION
XAUUSD Analysis - 14/02/2024
To get into a buy setup on XAUUSD, I am looking at two probabilities but majorly, we need a change of character on the 1H TF. So with the recent behavior of XAUUSD, the two probabilities are;
1. Price to sell from the 1H marked SC into the 4h DZ and then create a CHoCH to the bullish side. After this, we look for entries from the SC created in the process.
2. Price needs to take out the current high which will give us a CHoCH, and then we look for an SC created in the process to buy from.
In general, we have a Fair Value Gap (FVG) which will aid momentum to the bullish side.
We also have a UNEMPLOYMENT CLAIM NEWS happening tomorrow.
Since we don't know how long it might take price to do this, I am patiently waiting.
SC = Sponsored Candle = Demand or Supply POI
To get into a buy setup on XAUUSD, I am looking at two probabilities but majorly, we need a change of character on the 1H TF. So with the recent behavior of XAUUSD, the two probabilities are;
1. Price to sell from the 1H marked SC into the 4h DZ and then create a CHoCH to the bullish side. After this, we look for entries from the SC created in the process.
2. Price needs to take out the current high which will give us a CHoCH, and then we look for an SC created in the process to buy from.
In general, we have a Fair Value Gap (FVG) which will aid momentum to the bullish side.
We also have a UNEMPLOYMENT CLAIM NEWS happening tomorrow.
Since we don't know how long it might take price to do this, I am patiently waiting.
SC = Sponsored Candle = Demand or Supply POI
Note
Price has given us the first Probability out of the two posted earlier on XAUUSD - We will be looking for a Possible Buy opportunity tomorrow.Note
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