When it comes to the technical analysis of XAUUSD, based on the current market structure, it is in a clear uptrend. After a strong impulse to the downside, we seen a strong rejection from the demand zone. It was the second time the price coming to this area and the rejection candle looked pretty strong, which means still a lot of demand coming in. If you are going in for a buy, better wait for a pull back and get in with an appropriate stop loss price. Targets T1 and T2 are marked on the chart.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
If you find this technical analysis useful, please like & share our ideas with the community.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.