GOLD- HOW LOW CAN IT GOO??
Hi everyone
As we got ourselves a good start for this week for XAUUSD, we can see last week's buying pressure was less than the prior bar,so with this perspective and structure on daily time frame which is, bars with long shadows showing less buying pressure than the prior trend,bear context might be more reliable.
Context for 4h chart in the next couple of bars might be more red than green, because the pattern here may turn out to be a MTR pattern.The pattern here might be a triangle ( inside the channel).
Resistance factors are 1865$ level and the top of the channel,and for support we get,1850$ level and of course bottom of our channel.
Hope this analysis helps you in a way.
I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
As we got ourselves a good start for this week for XAUUSD, we can see last week's buying pressure was less than the prior bar,so with this perspective and structure on daily time frame which is, bars with long shadows showing less buying pressure than the prior trend,bear context might be more reliable.
Context for 4h chart in the next couple of bars might be more red than green, because the pattern here may turn out to be a MTR pattern.The pattern here might be a triangle ( inside the channel).
Resistance factors are 1865$ level and the top of the channel,and for support we get,1850$ level and of course bottom of our channel.
Hope this analysis helps you in a way.
I will answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
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