XAU Buy
On the daily, I see that price was in a downtrend and hitting -27 on the daily fib, triple bottom on support but still trending downward.
On the 4HR, I can see that price was trending downward pulling back to 38.2 on the FIB and consolidating on the weekly level. There's bullish divergence on the RSI.
On the 1HR, I see that price was in a downtrend, reversed for the buy after hitting -61.8 and has been consolidating on a weekly key level ever since. RSI is Bullish.
CURRENTLY: I am looking to see if price will break and retest minor trendline and make its way back to previous resistance level @ -27 on the minor fib.
(100 pips)
ULTIMATELY, I am looking for Gold to be bearish with week since the Dollar index is bearish and has not yet hit -27 on the daily fib.
On the 4HR, I can see that price was trending downward pulling back to 38.2 on the FIB and consolidating on the weekly level. There's bullish divergence on the RSI.
On the 1HR, I see that price was in a downtrend, reversed for the buy after hitting -61.8 and has been consolidating on a weekly key level ever since. RSI is Bullish.
CURRENTLY: I am looking to see if price will break and retest minor trendline and make its way back to previous resistance level @ -27 on the minor fib.
(100 pips)
ULTIMATELY, I am looking for Gold to be bearish with week since the Dollar index is bearish and has not yet hit -27 on the daily fib.
Trade closed: target reached
Trade closed: target reached
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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.