Based on an overall perspective, Gold is currently in an uptrend. Zooming into a H4 timeframe, the market was in a minor downtrend. However, the price has broken market structure to the upside, closing above the structure and signalling bullish momentum. Moving forward, we anticipate a retracement into the blue zone, which is our H4 OB plus swing low. From there, we will look to go long to take out the previous high on the D1 timeframe.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.