XAUUSD 2021 Apr 19 Week (Intraday)

Apr 18, 2021

XAUUSD

XAUUSD 2021 Apr 19 Week (Intraday)

Weekly = Bearish | Daily = Bullish | H4 = Bullish

Last week's trade plan to long on LTF was good.
After failing slightly to test high of A on 08 April, market made a second attempt.

12 April: notice bar 1 was formed which alert us to possible long opportunity.
13 April: market took in the long at low of bar
14 April: as market appeared supported around low of bar 1, another long was triggered
15 April: Market attacked high of A with conviction, support by absorption volume. This is strength.
16 April: Needless to say, we should look for long given the strength of Bar 2 aborption volume.

Bar 3 we see price close off the high, spread has narrowed. , it is a
possible sign of some selling pressure. This will give us opportunity to long should market come
back to test 1760-67 area.

Like & Follow if you find this useful.

Have a profitable trading week.