XAUUSD
I bring you a possible entry into gold, as you can see in the 15M graph, a double top had formed in 1910, which caused it to fall, then a double bottom was formed that caused the rise, along with a downward trendline that It had been formed from the point 1910 to 1898.
You have the analyzed pair in the M15, 1H and 4H timeframes.
In M15 we can see that there is a break in the bullish trendlie, then a pullback is formed, I hope the pullback reaches the 1906 area approximately to see how it reacts to that area.
When we are in that area, I will look for a pattern or wait for confirmation candles that tell me to follow the shoulder-head-shoulder pattern, and that it respects the pulback.
In a period of 1h there is a bearish trend that has broken and a pullback has formed, for the moment it has respected it and we can see a rise until 1906 that also agrees with the pullback we expect in M15.
In the 4h period, the pullback has always respected the trendline that it broke. We also touch the trendline that acts as resistance in the main channel.
It is important to know that all these movements in periods up to 4h, are moving within a bearish main channel.
I bring you a possible entry into gold, as you can see in the 15M graph, a double top had formed in 1910, which caused it to fall, then a double bottom was formed that caused the rise, along with a downward trendline that It had been formed from the point 1910 to 1898.
You have the analyzed pair in the M15, 1H and 4H timeframes.
In M15 we can see that there is a break in the bullish trendlie, then a pullback is formed, I hope the pullback reaches the 1906 area approximately to see how it reacts to that area.
When we are in that area, I will look for a pattern or wait for confirmation candles that tell me to follow the shoulder-head-shoulder pattern, and that it respects the pulback.
In a period of 1h there is a bearish trend that has broken and a pullback has formed, for the moment it has respected it and we can see a rise until 1906 that also agrees with the pullback we expect in M15.
In the 4h period, the pullback has always respected the trendline that it broke. We also touch the trendline that acts as resistance in the main channel.
It is important to know that all these movements in periods up to 4h, are moving within a bearish main channel.