XAUUSD - 2024/08/05
Updated
Overall Gold is still in a bullish trend, for us to start trading bearish we need a strong daily bearish closure.
On Friday following the NFP data release gold started pushing up and then had a huge drop. The data that was released is deflationary making it bullish for Gold.
Now we can see that we have 2 volume buy zones, I will look to see in which zone I get my entry confirmation to go higher.
On Friday following the NFP data release gold started pushing up and then had a huge drop. The data that was released is deflationary making it bullish for Gold.
Now we can see that we have 2 volume buy zones, I will look to see in which zone I get my entry confirmation to go higher.
Note
We moved lower into our second buying zone with a lot of bearish momentum. Let's see if we can get the confirmation but at the moment it looks very bearish to buy.
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