XAUUSD : Bull or What ?

As you can see, yesterday, after reaching the desired supply level, the price faced selling pressure and fell from $1657 to $1645 as the first target, and then with the announcement of an increase in interest rates, it grew again to a higher supply level and a bearish order block. (i.e. the level of $1664 to $1670 and after that it faced more selling pressure by reaching its Bearish OB and today it fell to $1616! Now, by collecting liquidity below this level, it has faced a little positive reaction and should Let's see how he will react to the announcement of ISM Services PMI statistics!

Follow me for more analysis & Feel free to ask any questions you have, I'm here to help.

⚠️ This Analysis will be updated ...
👤 Arman Shaban : @ArmanShabanTrading
📅 11.03.2022
⚠️(DYOR)

❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️

Comment:

✅ Total Result : +110 Pips ✅

After the PMI statistics were announced and weakened the dollar index, the price of gold gained strength and was able to grow to $1631, which means more than 100 pips of price growth! In order to get a trigger for positions , we must consider its Risk/Reward, rather than entering into the trade without any opinion! I hope this analysis was useful for you as always!

Trade closed: target reached:

✅ Total Result : +570 Pips ✅
✅ All BUY Positions Closed ✅