#XAUUSD (GOLD):
(1D):
The higher timeframe is seeing a market switch to bullish again, after a prolonged bearish sentiment, being reflected in this complex correction, which created a bearish channel. My bias is bullish, as the price is trying to break it.
(4H):
Looking at market structure, the bullish series of highs and lows is crystal clear, and right now we are seeing the price retracing again. A possible retest area would be previous high.
(1H):
Looking for entry, we are seeing the price re-accumulating in a small triangle, which wouldn't give us an optimal RR. The reason is the strong resistance and psychological level at 1900. If we get a break of that, i will long for more bullish continuation
(1D):
The higher timeframe is seeing a market switch to bullish again, after a prolonged bearish sentiment, being reflected in this complex correction, which created a bearish channel. My bias is bullish, as the price is trying to break it.
(4H):
Looking at market structure, the bullish series of highs and lows is crystal clear, and right now we are seeing the price retracing again. A possible retest area would be previous high.
(1H):
Looking for entry, we are seeing the price re-accumulating in a small triangle, which wouldn't give us an optimal RR. The reason is the strong resistance and psychological level at 1900. If we get a break of that, i will long for more bullish continuation