XAUUSD Long - waiting on confirmation.

16 avr. 2021

Two most likely scenarios at play;
Bulls will still take charge of the initial upside fresh from a pullback driven to for the yellow metal to shine.
My last post on Gold spot were that the instrument will go up before falling loosing it's shine but finds accumulation for a rally .

Bears can take over if only the upcoming news forecast is under the numbers meaning if it's below the projected numbers then
Gold looses it's shine momentarily. It could also mean that there are Buy stop orders and/or buy limits/sell stops near the consolidation zones
waiting for the moment to come in which the instrument comes down just a bit .

My bias is waiting for confirmation at a lower timeframe for bullish movement preferably on the london session.
About 30 minutes before or 30 minutes after london session will give us a clue as to where it is heading.

Good luck Traders.