Xauusdsetup
08-04-2022 XAUUSD ANALYSISOne day candle shows a clear consolidation.
There is a major support and resistance.
Support at 1916.006 and Resistance at 1938.818.
The Blue and Red arrows indicates the number of rejections as support and resistance respectively.
If the price breaks the support levels then the price will fall to a target at it next support level 1907.043 and further down to 1896.923.
If the price breaks the support levels the the price will rise to a target 1949.700 and further up to 1958.406.
GOLD SHORT! confluence - RWH touched of previous week , and consolidated/distributed for like 1 week straight, mark down divergence in (4 hours TF and daily TF!!) , got a big stop hunt in us brinks - Thursday (second leg of the M) , a lot of 4 hours stopping volume coming at the top , broke this M pattern and touched the RDL (mean we have completed level 1 of this M pattern (1 hour TF)) , we have completed 3 levels in 15 min cycle so we are expecting a retrace to 1 hour 50 ema with 3 levels to the up side on mon-tue and m pattern on wed as mid week reversal which is align with non-farm news , we are ending week below the psy and formed type 3 london pattern today + 4 hours TDI starting to expand to the downside after this consolidation
XAUUSD LongXAUUSD Long
R/R: 1:3
I think Strong Support, Bullish Engulfing
Feel free to share your opinions in the comment!
XAUUSDXAUUSD 15m Chart, Enter based on break of 15min consolidation area of Pre-NY session. SL below current 15m candle
XAUUSD PA Key Level Breakout SignalShort Signal
Entry ~ 1480.00
Stop Loss @1491.00
Take Profit @ 1450.00
This Entry Based on HS Neckline Breakout's Retest Level.
