XAUUSD 4HR Analysis & Market Update
We did break out below my previous identified key pivot level and created a bearish wick out that pushed below the dynamic level and probably took a few stops with it but its done this previously however then the following hourly candle did close back in the trend and had a validation occur however currently 40 minutes into the next hourly candle we seem to be really struggling to climb back into that level.
Although we are currently resting strong on 1931-37 i fear that with us already being at 19:42pm and the markets slowing down volume wise, we may not see any further action until another 5-6 hourly candles, by which would see a range develop outside the previous range and with how the asian sessions have been recently it could then slump down to the invalidation area of 1920 or not, its had a flow of its own recently honestly compared to uk and us market hours.
Although we are currently resting strong on 1931-37 i fear that with us already being at 19:42pm and the markets slowing down volume wise, we may not see any further action until another 5-6 hourly candles, by which would see a range develop outside the previous range and with how the asian sessions have been recently it could then slump down to the invalidation area of 1920 or not, its had a flow of its own recently honestly compared to uk and us market hours.
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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.