XAUUSD on 4 Hour

Updated

Price last week, made a strong bullish breakout through the key level zone forming a fresh high following a strong uptrend impulsive movement. Now, price is currently making a correction, & i am looking for a new higher low to form, retesting the previous key level resistance structure zone as new support forming a new higher low, where on the lower timeframe i will be looking for a bullish confirmation for price to continue the uptrend for a new potential higher high into the next resistance regions above.

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30 min timeframe: Key level retest zone also aligns with the 50 fibonacci retracement of the last major impulsive movement, in the area of interest to look for a lower timeframe bullish reversal .

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Pullback to the retest zone complete, & a doji candle formed. Looking for continuation from this zone.

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Position for NY session currently running +60 pips in profit, half position closed & trailing my SL towards my targets.

Profound_Ambition

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