XAUUSD|Trading positions in multi-time frames
Hello guys, I hope you are doing well. We have the gold chart in 1 hour time frame:
For gold, if you remember, we had an bullish order block area, which moved up well upon reaching this area, and it has also started to move up in the return to the candlestick that was formed in one hour and the demand area was formed.
The point that is important in the one-hour timeframe is the level (2030), which is a resistance on the way of gold.
But if we have a close candle above this level, we can hope for its upward trend until the next supply area, which is around (2038-2041).
In the time frame of 15 minutes, we have the refined area of that one-hour supply area, which we can enter selling positions when the price reaches this area.
In the 4-hour time frame, we had a support, and when we reached it, we moved upwards. As long as it is maintained, gold can achieve higher targets, but if this area is broken down, the numbers that can be expected are the supply areas (2005 -2008) and the next area (1990-1995).
For gold, if you remember, we had an bullish order block area, which moved up well upon reaching this area, and it has also started to move up in the return to the candlestick that was formed in one hour and the demand area was formed.
The point that is important in the one-hour timeframe is the level (2030), which is a resistance on the way of gold.
But if we have a close candle above this level, we can hope for its upward trend until the next supply area, which is around (2038-2041).
In the time frame of 15 minutes, we have the refined area of that one-hour supply area, which we can enter selling positions when the price reaches this area.
In the 4-hour time frame, we had a support, and when we reached it, we moved upwards. As long as it is maintained, gold can achieve higher targets, but if this area is broken down, the numbers that can be expected are the supply areas (2005 -2008) and the next area (1990-1995).
Trade closed: target reached:
With the breakdown of the four-hour downward support zone, I said that the targets are the support zones (2005-2008) and the next zone (1995-1990).