Sunday Analysis XAUUSD
Hey Everyone!
Gold is kinda picking my brain right now, I have two ways which I see this going, but overall, it do feel like it should shoot down before continuing up.
TOP DOWN ANALYSIS
Weekly: Seems to me that price has been ranging since May, but overall the trend is bullish.
Daily: DEFINITELY seems to be ranging now. Attempted to draw out a trend line (that's what I meant when I wrote out the comment about not being 100% valid since there just wasn't enough touches for me), should really delete it but ehhh.
- Bearish pinbar slightly above the 200 MA (which makes me feel like price wants to push back down and not break the zone)
4Hr: Nothing but bullish candles from the bottom of my zone to the top!
1hr: ADX crossed which is interesting because I did notice it was about to cross as well on the 4hr timeframe.
15min: I usually use the 15 and 30 Moving averages to help me with scalping Gold so seeing the cross of these two on top of the adx cross has me feeling BEARISH
What do all think? Let's discuss!
Gold is kinda picking my brain right now, I have two ways which I see this going, but overall, it do feel like it should shoot down before continuing up.
TOP DOWN ANALYSIS
Weekly: Seems to me that price has been ranging since May, but overall the trend is bullish.
Daily: DEFINITELY seems to be ranging now. Attempted to draw out a trend line (that's what I meant when I wrote out the comment about not being 100% valid since there just wasn't enough touches for me), should really delete it but ehhh.
- Bearish pinbar slightly above the 200 MA (which makes me feel like price wants to push back down and not break the zone)
4Hr: Nothing but bullish candles from the bottom of my zone to the top!
1hr: ADX crossed which is interesting because I did notice it was about to cross as well on the 4hr timeframe.
15min: I usually use the 15 and 30 Moving averages to help me with scalping Gold so seeing the cross of these two on top of the adx cross has me feeling BEARISH
What do all think? Let's discuss!
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