Gold trending up again
#XAUUSD (GOLD):
(1D):
The higher timeframe is seeing a market switch to bullish again, after a prolonged bearish sentiment, being reflected in this complex correction, which created a bearish channel. My bias is bullish, as the price is trying to break it.
(4H):
Looking at market structure, the bullish series of highs and lows is crystal clear, and right now we are seeing the price retracing again. A possible retest area would be previous high.
(1H):
Looking for entry, we are seeing the price re-accumulating in a small triangle, which wouldn't give us an optimal RR. The reason is the strong resistance and psychological level at 1900. If we get a break of that, i will long for more bullish continuation
(1D):
The higher timeframe is seeing a market switch to bullish again, after a prolonged bearish sentiment, being reflected in this complex correction, which created a bearish channel. My bias is bullish, as the price is trying to break it.
(4H):
Looking at market structure, the bullish series of highs and lows is crystal clear, and right now we are seeing the price retracing again. A possible retest area would be previous high.
(1H):
Looking for entry, we are seeing the price re-accumulating in a small triangle, which wouldn't give us an optimal RR. The reason is the strong resistance and psychological level at 1900. If we get a break of that, i will long for more bullish continuation
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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.