TradingView
tradafx
Oct 18, 2021 7:20 AM

XAUUSD commentary week 42 from October 18 to October 22 Long

GoldOANDA

Description

H4 time frame.
Structure: Uptrend.
After the price up to break Key Level, there was no confirmation move but a strong down.
Here the price has no confirmation of the downtrend and is stopping at the support level of 1770.
From here, a new accumulation zone is likely to form with a range from 1770 - 1800.
At the 1770 support zone, we can wait for bullish reversal patterns to buy on the 1-hour time frame.
The profit target is the 1800 zone.
-----------------------------------------------------------------------------------------------
Wish you all have a good trading day!

More