XAU / USD ( Gold / U.S Dollar ) Technical Analysis Chart Update
Time Frame - H1
According to the Pattern in H-1 Long Time Frame #LTF it has breakout and Completed the Retest
According to Short Time Frame #STF M-15 it is in the Symmetrical Triangle and Breakout the Lower Trend Line #LTL and completed the Retest
Another Reason for Sell is Break of Structure #BOS...
Gold dropped almost 300 pips yesterday with plenty of opportunities on the 15 min. Now getting ready for longs. It's still too early in my opinion price hasn't shown me a 4H choch to the up side but we could get that today. Once there's confirmation targeting 1808 would be high probability
- Analysis of gold against the US dollar on the four-hour chart
Technical analysis is based on trend analysis
The price is now trapped between an uptrend and a downtrend
- We wait for the downtrend to cross over to reach the targets specified on the chart
The weak scenario is to break the uptrend to fall to the selling targets specified on the chart
GOLD is jumping in a weekly support zone. The price of GOLD has been increasing strongly in few days, I think it's retracement. When will this end ?
If this strong bullish impulse continues price is test to fibonacci level /1875~1921/ but first we need to break the strong resistance zone of 1805, wait for break then entry long.
Good luck everyone and thanks for coming