This analysis of the XAU/USD on the 30-minute timeframe suggests a strong bullish breakout potential. The price has been in uptrend, following ascending trendline and currently price is about to retest the trendline again.
Below at 3404 there is H4 FVG, if market retraces from trend line tha it could go down to test the FVG.
Possible Scenario:
Bullish Scenario: If the price breaks above the trend line wait for some confirmation than we take entries at this level.
Bearish Scenario: If the market close below the trend line and show some bearish signs than it could possibly go down to test the the FVG so we can take sell side entries
Below at 3404 there is H4 FVG, if market retraces from trend line tha it could go down to test the FVG.
Possible Scenario:
Bullish Scenario: If the price breaks above the trend line wait for some confirmation than we take entries at this level.
Bearish Scenario: If the market close below the trend line and show some bearish signs than it could possibly go down to test the the FVG so we can take sell side entries
Trade active
The market isn't in our favor for today, its anticipated that the market can show rejection from trendline to retest OB but it fake out trapping both buyers and sellers.But the market is very close to 4H FVG as it is not been tested we can see some bullish move from there so we can reenter from there, ill update you guys if we have some confirmation.
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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.