As you see in the 4H time frame, there is a downtrend and price is bouncing in the sideways zone between SR levels after a big drop.
Currently price is in the congestion area and has been rejected from the red resistance level and was pushed to the downside.
Since we are in a bearish trend, if price breaks the yellow support level and closes a bearish 4H candle below this level, I expect a drop on XAUUSD around 1897.
Currently price is in the congestion area and has been rejected from the red resistance level and was pushed to the downside.
Since we are in a bearish trend, if price breaks the yellow support level and closes a bearish 4H candle below this level, I expect a drop on XAUUSD around 1897.
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.
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.