One 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...
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...
XAUUSD Long R/R: 1:3 I think Strong Support, Bullish Engulfing Feel free to share your opinions in the comment!
Short Signal Entry ~ 1480.00 Stop Loss @1491.00 Take Profit @ 1450.00 This Entry Based on HS Neckline Breakout's Retest Level.