XAUUSD FUTURISTIC PRICE ACTION
Possible Gold wyckoff schematics formation to sponsor the price higher using the H4 Timeframe.
This is supported by the rejection on the weekly Timeframe and leaving a confirmation as follows on the support zone of 1683-1680
* 3 touch of the support zone
* A retest of the demand zone on h4
* And the 200 moving average resting on the zone.
And multiple accumulation forming on the h1.
Also paying attention to the structure... the weekly Timeframe is still an uptrend just hit it's retracement level.
But it's better to wait for the schematics to be fully formed before trying to markup the phases.
Patience is key.
#Idon'tknowbetter
This is supported by the rejection on the weekly Timeframe and leaving a confirmation as follows on the support zone of 1683-1680
* 3 touch of the support zone
* A retest of the demand zone on h4
* And the 200 moving average resting on the zone.
And multiple accumulation forming on the h1.
Also paying attention to the structure... the weekly Timeframe is still an uptrend just hit it's retracement level.
But it's better to wait for the schematics to be fully formed before trying to markup the phases.
Patience is key.
#Idon'tknowbetter
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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.