Hello everyone
In last the week , market created a bear trend structure and did end it with a good hanging man bar which indicated that the bear trend continues and with the full bear body bar for today we have the full context of bear market.
So far the market broke out of 1880$ for XAUUSD and reaching the 1850$ is expected.We may get to see the price in the lower channel by the end of the week or we may have the price create the same pattern from the last week.
In 4 hours chart we have good amount of shadow on our pin bar right now but it does not change the context.If I want to buy, I wait for a good sentimental news,a reversal pattern and for a second signal to enter ( I don't take the first entry) .
In last the week , market created a bear trend structure and did end it with a good hanging man bar which indicated that the bear trend continues and with the full bear body bar for today we have the full context of bear market.
So far the market broke out of 1880$ for XAUUSD and reaching the 1850$ is expected.We may get to see the price in the lower channel by the end of the week or we may have the price create the same pattern from the last week.
In 4 hours chart we have good amount of shadow on our pin bar right now but it does not change the context.If I want to buy, I wait for a good sentimental news,a reversal pattern and for a second signal to enter ( I don't take the first entry) .
Comment:
the price may touch the top of the channel and bounce