XAUUSD - 2024/08/05
Overall Gold is still in a bullish trend, for us to start trading bearish we need a strong daily bearish closure.
On Friday following the NFP data release gold started pushing up and then had a huge drop. The data that was released is deflationary making it bullish for Gold.
Now we can see that we have 2 volume buy zones, I will look to see in which zone I get my entry confirmation to go higher.
On Friday following the NFP data release gold started pushing up and then had a huge drop. The data that was released is deflationary making it bullish for Gold.
Now we can see that we have 2 volume buy zones, I will look to see in which zone I get my entry confirmation to go higher.
Note
We moved lower into our second buying zone with a lot of bearish momentum. Let's see if we can get the confirmation but at the moment it looks very bearish to buy.
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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.