🔰 Pair Name : XAU/USD
🔰 Time Frame : 4HOUR
🔰 Scale Type : MID SCALE
🔰 Direction: BUY
In our latest analysis, we have observed a significant market imbalance, indicating that Gold is poised to retrace and fill the imbalance area. Notably, a distinct order block has materialized on the daily chart. It is worth mentioning that institutional orders have entered the market, evident from the formation of a clear inverted head and shoulders pattern just above the Daily Buy order block. This price action coincides with the release of the Friday NFP news.
Traders who may have missed the opportunity to enter the market at the order block can now exercise patience and monitor the 4-hour chart for a potential breakout above the neck line. Once the breakout occurs, it is advisable to wait for a retest of the breakout level before initiating a buy position. Our target price is set at the $1950 area, which corresponds to the location of the last unfilled imbalance.
In our opinion should NOT be lower than 1912 area.
🔰 Time Frame : 4HOUR
🔰 Scale Type : MID SCALE
🔰 Direction: BUY
In our latest analysis, we have observed a significant market imbalance, indicating that Gold is poised to retrace and fill the imbalance area. Notably, a distinct order block has materialized on the daily chart. It is worth mentioning that institutional orders have entered the market, evident from the formation of a clear inverted head and shoulders pattern just above the Daily Buy order block. This price action coincides with the release of the Friday NFP news.
Traders who may have missed the opportunity to enter the market at the order block can now exercise patience and monitor the 4-hour chart for a potential breakout above the neck line. Once the breakout occurs, it is advisable to wait for a retest of the breakout level before initiating a buy position. Our target price is set at the $1950 area, which corresponds to the location of the last unfilled imbalance.
In our opinion should NOT be lower than 1912 area.
Trade active
Comment:
Price possible to refill the imbalance under before heads up.
Comment:
Don't miss the Buy!
Comment:
Comment:
Gold successfully breaking out from the neckline! stay tuned to see Gold's next move!
Trade closed: target reached
