XAU/USD Outlook (Bull Run for Gold?!)
Hey guys I have just completed some analysis on the market to try and decipher what is going on. We can see on the higher timeframes price is definitely within a bullish phase creating higher highs and lows.
However, we have recently had a correctional wave lower which I was hoping would target the grey demand zone before reversing for a move higher. Although, there seems to be a lot of bullish momentum in the market currently so I will be awaiting further confirmation of the current trend.
Recently price has tapped our red supply zone so we either see a distribution schematic form and then a move lower into HTF Demand. Or we see price continue higher and if we blow through the red supply zone, I will then be looking to get involved in Buy entries.
However, we have recently had a correctional wave lower which I was hoping would target the grey demand zone before reversing for a move higher. Although, there seems to be a lot of bullish momentum in the market currently so I will be awaiting further confirmation of the current trend.
Recently price has tapped our red supply zone so we either see a distribution schematic form and then a move lower into HTF Demand. Or we see price continue higher and if we blow through the red supply zone, I will then be looking to get involved in Buy entries.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.