XAUUSD - Gold 4hr
Simple trading - Trend breakout
BULLS:
No more bearish liquidity on the intraday timeframes. With new higher highs, Gold may have enough momentum to head towards 2330 and remain above the 2340 price. CPI Report came back negative which may allow gold to maintain above the previous support 2310-15.
BEARS:
Gold has NOT completely rejected the 4-hour HEADS and SHOULDER. This is because gold has broken above the neckline, Yes. But technically this could be the retest we have been waiting for. If the price falls below 2310 and fails to hold above the downtrend bottom channel, expect gold to freefall to the next support area.
*These are just my thoughts, not financial advice.
BULLS:
No more bearish liquidity on the intraday timeframes. With new higher highs, Gold may have enough momentum to head towards 2330 and remain above the 2340 price. CPI Report came back negative which may allow gold to maintain above the previous support 2310-15.
BEARS:
Gold has NOT completely rejected the 4-hour HEADS and SHOULDER. This is because gold has broken above the neckline, Yes. But technically this could be the retest we have been waiting for. If the price falls below 2310 and fails to hold above the downtrend bottom channel, expect gold to freefall to the next support area.
*These are just my thoughts, not financial advice.
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