XAUUSD - 2024/08/08
We tried breaking the buy zone but failed to create a lower low. we then broke back above the buy zone creating a support to go higher.
I am looking for the market to go long into 2412.
We can start looking at sells again once we break below 2381.185 when we create a lower low, then I will look for sell zones once again.
Fundamentally, we only have the Jobless Claims for USD. I am not expecting a huge reaction from the data release.
I am looking for the market to go long into 2412.
We can start looking at sells again once we break below 2381.185 when we create a lower low, then I will look for sell zones once again.
Fundamentally, we only have the Jobless Claims for USD. I am not expecting a huge reaction from the data release.
Note
On the left we can see the 4h timeframe. We are still trading in our buy zone, as long as we stay above our buy zone I will look to go long.
On the right side the daily timeframe. We can see that we are currently creating higher lows and we are sitting at a strong support area. For me to consider going bearish we need to close with a strong bearish daily candle below the support of 2381.185
Note
We finally got the volume push from our 1h volume buy zone to get to the target of 2412.
Note
My target of 2412 was hit and exceeded. We also formed a new volume buy zone, if we can get a possible retracement back into the zone and a confirmation of the trade we might be able to get another long today.
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