XAUUSD - Fly
Referring to Daily chart, previous candle formed strong bullish engulfing signaling strong demand for gold. Drop down to H4 chart, there is doji and indecision candlestick followed by strong market move to upside.
CPI news bring price down to this level, before fly forming hammer candlestick. Confluence of trend line, signaling further bullish move creating new higher high. (HH).
CPI news bring price down to this level, before fly forming hammer candlestick. Confluence of trend line, signaling further bullish move creating new higher high. (HH).
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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.