Hello Traders,
I'm excited to share some insights on XAU/USD:
The bearish channel has been successfully broken, and a new bullish trend has emerged.
While the new bullish channel appears relatively narrow, it's important to remember that breaks above or below it may not necessarily indicate a change in trend direction.
Here's our strategy:
Keep a close eye on lower time frames for potential opportunities.
If we observe any breaks above 2041.114 in lower time frames, it validates our zone in the 15-minute chart.
Typically, we exercise caution with 15-minute zones and avoid taking excessive risks. However, if it coincides with the bottom of the bullish channel, we may consider a standard risk approach.
Stay vigilant and trade wisely!
Best regards,
Note
enter around the yellow box,
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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.
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.