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Gold Spot / U.S. Dollar
Updated

XAUUSD on 4 Hour

396
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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snapshot 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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snapshot Pullback to the retest zone complete, & a doji candle formed. Looking for continuation from this zone.
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snapshot Position for NY session currently running +60 pips in profit, half position closed & trailing my SL towards my targets.
Profound_Ambition
Supply and DemandSupport and ResistanceTrend Analysis

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Supply and DemandSupport and ResistanceTrend Analysis
Profound_Ambition

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.