XAUUSD Multi Timeframe Analysis
MN CHART
We are starting with the MN chart and looking at some long term levels.
Currently, MN chart is bearish. SEP Close blow 1768 will keep the bias bearish with the potential of a bounce from the 1734 area.
SEP Close below 1705 will indicate strong bearish momentum and we will be targeting 1633 and below
WEEKLY CHART
This week we are looking for a third red candle completing three black crow formation and targeting 1724 and possibly a drop below 1675 to grab liquidity if we get an aggressive drop.
D1 CHART
We could see a retracement to 1780 area to test resistance if we are lucky.
Looking for price to test 1724 level
Price is in a descending channel.
A daily close above 1833 will negate the bearish outlook on Gold.
We are starting with the MN chart and looking at some long term levels.
Currently, MN chart is bearish. SEP Close blow 1768 will keep the bias bearish with the potential of a bounce from the 1734 area.
SEP Close below 1705 will indicate strong bearish momentum and we will be targeting 1633 and below
WEEKLY CHART
This week we are looking for a third red candle completing three black crow formation and targeting 1724 and possibly a drop below 1675 to grab liquidity if we get an aggressive drop.
D1 CHART
We could see a retracement to 1780 area to test resistance if we are lucky.
Looking for price to test 1724 level
Price is in a descending channel.
A daily close above 1833 will negate the bearish outlook on Gold.
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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.
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.