Hello Traders,
If you look closely at my XAUUSD chart, you can see some quick analysis I have drawn up.
The 15m timeframe is bullish, as is also the 1 hour
The 1h is also indicating a consolidation period for this current area, which are are expecting to break out of shortly.
We are currently making LH & HL within the consolidation period.
I have scaled into the chart into the 15m timeframe and found a potential LOB are a buy area.
If price is going to continue to the bullish side, I will expect a bounce from here.
We have a small TP on this as this is the safest way. Even though we have a small TP we can still gain a 6% return on this.
If you look closely at my XAUUSD chart, you can see some quick analysis I have drawn up.
The 15m timeframe is bullish, as is also the 1 hour
The 1h is also indicating a consolidation period for this current area, which are are expecting to break out of shortly.
We are currently making LH & HL within the consolidation period.
I have scaled into the chart into the 15m timeframe and found a potential LOB are a buy area.
If price is going to continue to the bullish side, I will expect a bounce from here.
We have a small TP on this as this is the safest way. Even though we have a small TP we can still gain a 6% return on this.