XAUUSD (GOLD) - Outlook (Still Hawkish/Bullish)
Updated
Self journaling:
Monday 22, 2024 the lower low (LL) was created after the ATH (all time high)
every since this has been a key level, when below it price is pushed down to about 2280s-2290s levels and when above it price rallies but has been forming a lot of accumulation/consolidation (highlighted in a yellow rectangle)
April 19th, 2024 same scenario
Friday we were able to capture this sell
Price has shown a bounce of this key level time and time again and since it was just below it and push up and was failing to break above resistance it began diverging. It was friday so many were closing their longs and caused a sell of since not many were buy the top.
I will watch price closely this week for potential buys or sells but this is how i see it playing out in the chart.
Monday 22, 2024 the lower low (LL) was created after the ATH (all time high)
every since this has been a key level, when below it price is pushed down to about 2280s-2290s levels and when above it price rallies but has been forming a lot of accumulation/consolidation (highlighted in a yellow rectangle)
April 19th, 2024 same scenario
Friday we were able to capture this sell
Price has shown a bounce of this key level time and time again and since it was just below it and push up and was failing to break above resistance it began diverging. It was friday so many were closing their longs and caused a sell of since not many were buy the top.
I will watch price closely this week for potential buys or sells but this is how i see it playing out in the chart.
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