GOLD - WHERES THE END OF THE RAINBOW?... 🌈🌈🌈
Hi traders
Here we have our breakdown of the 4hr XauUsd chart. (Gold)
We can see price has been trading within the range of this ascending channel for quite some time and we have been anticipating the break out of this ascending trend for some time.
We are expecting further bullish momentum for the US Dollar and continued talk and action around interest rate hikes will help this scenario along the way.
We will be monitoring our entry zone to look to capitalize on this move to the downside and would like for the 0.618 fib retracement to give us the extra confluence. (A nice little 4hr pin bar at this area would be nice too see... just putting it out into the universe... 🤣🤣🤣.
Please do share your opinion on the future off gold in the short term as its always great to hear others perspective.
As always guys trade safely and have a great week!
The Fx Chartist
Here we have our breakdown of the 4hr XauUsd chart. (Gold)
We can see price has been trading within the range of this ascending channel for quite some time and we have been anticipating the break out of this ascending trend for some time.
We are expecting further bullish momentum for the US Dollar and continued talk and action around interest rate hikes will help this scenario along the way.
We will be monitoring our entry zone to look to capitalize on this move to the downside and would like for the 0.618 fib retracement to give us the extra confluence. (A nice little 4hr pin bar at this area would be nice too see... just putting it out into the universe... 🤣🤣🤣.
Please do share your opinion on the future off gold in the short term as its always great to hear others perspective.
As always guys trade safely and have a great week!
The Fx Chartist
