XAUUSD 5TH MAR
XAUUSD looking pretty similar to U.S. oil here for our Sunday analysis.
We have a clear supply at the high of our swing, it's unmitigated with a clear level of imbalance.
I'm looking for a clear bearish rejection from this zone to then look for either a run of the low on the larger time frame or a pullback from our demand areas highlighted below.
If, for example, we don't hit this area of supply, I'll be looking for Long's from the areas of demand.
Overall, both options add up to one move being overall sell off for gold. Current price action is bullish, so we need to see a clear reversal to confirm this.
Make sure that you always use your confirmations to get into a trade and always be flexible with your analysis. Remember, sticking to your trading plan and consistently entering the same setups will bring you profitability.
If you like this idea, drop us a boost and a comment down below.
We hope you all have a profitable and successful trading week.
We have a clear supply at the high of our swing, it's unmitigated with a clear level of imbalance.
I'm looking for a clear bearish rejection from this zone to then look for either a run of the low on the larger time frame or a pullback from our demand areas highlighted below.
If, for example, we don't hit this area of supply, I'll be looking for Long's from the areas of demand.
Overall, both options add up to one move being overall sell off for gold. Current price action is bullish, so we need to see a clear reversal to confirm this.
Make sure that you always use your confirmations to get into a trade and always be flexible with your analysis. Remember, sticking to your trading plan and consistently entering the same setups will bring you profitability.
If you like this idea, drop us a boost and a comment down below.
We hope you all have a profitable and successful trading week.
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