OANDA:XAUUSD   Gold Spot / U.S. Dollar
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
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.