Gold breaking out on weekly, daily and 4 hourly timeframes
Updated
Hey everyone,
Here is a quick analysis on XAUUSD. We can see multiple breakouts on gold, which is very bullish.
Check out weekly chart, here it is breaking out of the triangle, it has already given a fake out but it is trying to break it again, took a pullback and made 2 bullish candles.
Check out the daily chart. Got closed in the supply zone, might break it!
On the four hourly timeframe, It has broken out of the order block. It made some wicks indicating that the bulls are more active.
We are nearing a Fibonacci Circle, which is a major area of trend reversal.
Here is a quick analysis on XAUUSD. We can see multiple breakouts on gold, which is very bullish.
Check out weekly chart, here it is breaking out of the triangle, it has already given a fake out but it is trying to break it again, took a pullback and made 2 bullish candles.
Check out the daily chart. Got closed in the supply zone, might break it!
On the four hourly timeframe, It has broken out of the order block. It made some wicks indicating that the bulls are more active.
We are nearing a Fibonacci Circle, which is a major area of trend reversal.
Note
Everything was going perfect until the news came in :"
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