XAUUSD 17/4/2023 Outlook. Bullish?
Good evening gold gang! hope you are well rested and ready to destroy the yellow metal with me.
Ok price dropped as expected last week and landed in a very major price level. If you zoom out to the weekly and monthly, you will see that price is on the end of an upward channel .. and any breaks below could mean we are moving down.
In the mean time though with a lot of FUD around the dollar .. xauusd is still high and i believe people want to see the all time high broken. We will need a major "news" catalyst to get back up there though. When i put inverted commas around news, i meant corruption lol
The zone where we are at currently is messy .. very messy. There is a clear imbalance there but id rather see the zone flush out first .. so buys for me are above 2022. The level below could be prime for a fakeout .. so ill be watching for that too .. candle close below and we are down down down.
Sells below 1993 should be nice and straight forward there not much to get in the way. Im just hoping for volume. A few red folders but nothing major this week.
Have a good session guys please like and follow along for more gold trading analysis.
tommy
Ok price dropped as expected last week and landed in a very major price level. If you zoom out to the weekly and monthly, you will see that price is on the end of an upward channel .. and any breaks below could mean we are moving down.
In the mean time though with a lot of FUD around the dollar .. xauusd is still high and i believe people want to see the all time high broken. We will need a major "news" catalyst to get back up there though. When i put inverted commas around news, i meant corruption lol
The zone where we are at currently is messy .. very messy. There is a clear imbalance there but id rather see the zone flush out first .. so buys for me are above 2022. The level below could be prime for a fakeout .. so ill be watching for that too .. candle close below and we are down down down.
Sells below 1993 should be nice and straight forward there not much to get in the way. Im just hoping for volume. A few red folders but nothing major this week.
Have a good session guys please like and follow along for more gold trading analysis.
tommy
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asian session relatively low volume and provided with no entries .. lets see what london brings
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and thats your fakeout .. lovely! 27 pips and counting
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literally followed my yellow line .. amazing.
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and there are you sells ... what an amazing day!!
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boop!! and that concludes the trading day .. well, there is enough pips there for the month but we back tomorrow and the next day and the next. Catch you tonight for the outlook .. go touch some grass! tommy