XAUUSD Gold Analysis (H4 time-frame)
The trend of Gold is down unless it breaks 1302$ level and stay above. While the price is under 1302$ it means that any up move is a correction. Don't jump with buy or sell! just stay calm and patient because the first rule in the market is Do not be panic. Let the price take its time to consolidate and to identify its new direction.
The downtrend is 70% and uptrend is 30% of our expectation. On the chart we identified the dangerous zones where the price direction might be unclear and the investors are in an indecision phase. I think they are waiting for NFP on Friday.. Even after the news don't panic and stay calm. If news are negative as expected the price will go up but my advice is not to buy until it breaks 1302$ and makes a pullback. If the news come positive for USD so price can break the 1278$ then you can go Short. If the price goes up between 1295$ and 1302$ we expect it will go down again with a reversal signal, there you can go Short safely. Regards,
The downtrend is 70% and uptrend is 30% of our expectation. On the chart we identified the dangerous zones where the price direction might be unclear and the investors are in an indecision phase. I think they are waiting for NFP on Friday.. Even after the news don't panic and stay calm. If news are negative as expected the price will go up but my advice is not to buy until it breaks 1302$ and makes a pullback. If the news come positive for USD so price can break the 1278$ then you can go Short. If the price goes up between 1295$ and 1302$ we expect it will go down again with a reversal signal, there you can go Short safely. Regards,
