*4H initial breakout completed *4H retest of the trend line or major fib levels to come *weekly/monthly bearish pressure *sell on pullback
*Pullback on the 1D trend line *Potential retest of 12 day EMA (1698) *Buy on the 1H trend line breakout
Bullish Flag forming a 4H Rejection off 12 day EMA (1702) and 0.618 or 0.5 fibs would indicate a signal for entry potential target for the week: 1776
wait for Powell's Speech, if there is a test and violation of this resistive 1-4H trend line, => SELL on pullback
Watch for a test of 1545 => Sell on Rejection => Target the lower bound of the Flag
A view on further development in the 4H Bullish Flag in XAUUSD
Wait for a Breakout Confirmation Sell on Pullback
1) Bull market/ 1D Uptrend, 1H Bullish Flag 2) 1545, 50, 55 R Levels 3) Signals awaited: ->Release of a Trade-Negative Headline ->50% Retracement of 1H or 4H candle that closes on break of 1545 (conservative) ->Technical Confirmation of Bearish Exhaustion in 1530-1540 Area (aggressive)
1) Bull market/ 1D Uptrend 2) 1545 R Level 3) Signal: Strong Bullish 4H Hammer 4H Engulfing Bar -->Strong Bullish pressure thus BUY on Breakout ->Buy on Trade Headline, or ->Buy on Close or 50% Retracement of candle that breaks 1545
Strong NFP may result in a breakout of Jun-Aug trend, this may trigger a drop to 1366 and set the direction towards 1300. DXY 100 later this month? Lets see
Fed rate cut may weigh down on the US Dollar until the Fed announces its decision. Trend Continuation is likely
Trend Breakout Sell on Pullback
Supportive Line Violation +Strong USD
Supportive Line Violation +Pullback confirmation (4H candle) +Reached major Resistance Line: Trend Reversal (Long Term 1W Downtrend in red)