This is an update to my previous Gold analysis. I shared bullish sentiment when publishing my first analysis of XAUUSD on March 9th. I wanted to post the progression and how my analysis played out. From what I am seeing there was bearish move breaking through the 2,903 4H level and the 2,895 weekly key level. At the end of my previous analysis I had mentioned there would be potential to see some bearish momentum to hunt stops under the strong support that previously were tested six times. Price did happen to break below this level before making a move upwards. I was able to execute on a long position, this is highlighted in the chart above.
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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.