XAUUSD: One high possible way to go
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Traders,
Gold only finished a single hammer ( sign of stop dropping) on last Friday. That give us a reason to watch if price of GOLD would push up to hit the blue zone before making a new lower low.
Actually on 4H chart, GOLD has a sign of bull by breaking an descending trendline line. As long as the blue channel is still valid, we are only looking for a small correction so far, not 1400, not 1600 , which are possible for a monthly swing trade.
Less is more!
Traders,
Gold only finished a single hammer ( sign of stop dropping) on last Friday. That give us a reason to watch if price of GOLD would push up to hit the blue zone before making a new lower low.
Actually on 4H chart, GOLD has a sign of bull by breaking an descending trendline line. As long as the blue channel is still valid, we are only looking for a small correction so far, not 1400, not 1600 , which are possible for a monthly swing trade.
Less is more!
Comment:
Comment:
1261 is the lowest position for last week which is important as our trading hint this week. Weekly chart is not ready to show us a reversal sign.
Now on daily chart, price already start its small wave up.
We assume that 1282 is the resistance zone for the first wave and waiting for a weekly chart chance to short or long later.
Now on daily chart, price already start its small wave up.
We assume that 1282 is the resistance zone for the first wave and waiting for a weekly chart chance to short or long later.
