đź’ˇ XAUUSD: Analysis May 21
Updated
Gold increased yesterday, but weakness appeared when yesterday's D1 bar created a bearish pinbar structure with an upper shadow and closed half of the amplitude, at the same time it swept above the previous price peak and then pulled back down. to close below the old peak, potentially creating a false break pattern forming a bullish price trap. This is a sign of a slowdown in price increases. Gold D1 therefore has not yet escaped the cumulative sideways structure. Main trend D1 Gold tends to increase in price.
H1 gold is in the downward adjustment phase of the previous price push up. There may be a complex pullback - consisting of 2 or more small pullbacks. The expectation is that H1 Gold can retest the 2400 round number area below to buy. If the price adjusts further, you can still buy from the support area below.
đź’ˇH1 trend: Gold moves sideways.
Today trading idea: Buy Gold.
H1 gold is in the downward adjustment phase of the previous price push up. There may be a complex pullback - consisting of 2 or more small pullbacks. The expectation is that H1 Gold can retest the 2400 round number area below to buy. If the price adjusts further, you can still buy from the support area below.
đź’ˇH1 trend: Gold moves sideways.
Today trading idea: Buy Gold.
Note
XAUUSD BUY LIMIT 2403 - 2400 TP1: 2410
TP2: 2420
TP3: 2430
SL: 2392
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