GOLD - Wait For The Trigger!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
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XAUUSD is overall bullish and currently sitting around a support zone so we will be looking for buy setups on lower timeframes.

on H4: XAUUSD formed an inverse head and shoulders (H1) but it is not ready to go yet.

Before we buy, we want the bulls to take over by breaking above the last high.

Trigger => Waiting for a momentum candle close above the gray neckline to buy.

Meanwhile, until the buy is activated, GOLD would be overall bearish can still trade lower.

Good luck!

All Strategies Are Good; If Managed Properly!

This analysis is done using RichTL


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