LearnFxJourney

27-5-2020 - H4 Gold - Neutral atm

OANDA:XAUUSD   Gold Spot / U.S. Dollar
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9
Following Tuesday Session, Price has respected the SMA 50 and Institutional Level 1735 along with the Descending trendline as it dipped to the downside. Price has confluence with the 4H Bearish Tideshift as the SMA 50 goes flat before crossing over with the EMA 14.

As of now, Price has temporarily found support on 1705 level and has been trying to retrace higher. However, it still have not tap the EMA 200 which would indicate that the Bearish Tideshift is potentially still in play.
But at the sametime Price seem to be approaching the Daily MSB Fib Level.

I will wait for price to show clearer price action on the lower TF before looking for setup.

Bias = Neutral
Structure = Corrective
Setup = No

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