xau usd / gold what direction is this yellow metal going next?
Updated
Gold is currently trading within the monthly supply zone. This zone is still valid so long trades are not allowed.
we want to see a break of structure, a valid down trend. we might be in times of uncertainty politically in the USA
so we should consider gold can potentially rise as a safe haven asset.
here we have a 4h SZ created after removing a 4H demand zone after bouncing of daily extreme supply nested in the
monthly zone
we want to see a break of structure, a valid down trend. we might be in times of uncertainty politically in the USA
so we should consider gold can potentially rise as a safe haven asset.
here we have a 4h SZ created after removing a 4H demand zone after bouncing of daily extreme supply nested in the
monthly zone
Note
market failed to retrace to our entry zone. supply is very strong. we will look for another setup to enter short
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.