XAUUSD Analysis
On the 1 hour Timeframe, price price has just rejected of the 1 hour bearish OB.
On the 15 minute timeframe, price is still bullish, creating a higher high.
There are 2 scenarios i am looking at for Gold.
1) I want to see a break of the 15 minute Higher low, if this happens, price creates a bearish CHOCH. I will looking for a break and retest to continue shorting towards the London Low.
2) If price pushing past the 1 hour Bullish OB, with a body candle close, I am looking for price action to retest the failed 1 hour OB before continuing higher.
On the 1 hour Timeframe, price price has just rejected of the 1 hour bearish OB.
On the 15 minute timeframe, price is still bullish, creating a higher high.
There are 2 scenarios i am looking at for Gold.
1) I want to see a break of the 15 minute Higher low, if this happens, price creates a bearish CHOCH. I will looking for a break and retest to continue shorting towards the London Low.
2) If price pushing past the 1 hour Bullish OB, with a body candle close, I am looking for price action to retest the failed 1 hour OB before continuing higher.
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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.