XAUUSD H1 TF SMC ANALYSIS (11/06/2024)
Looking at this updated Gold Spot (XAU/USD) chart on the 1-hour timeframe, we can identify the following insights:
Break of Structure (BOS): The recent BOS suggests a shift in momentum, indicating that a bullish reversal could be on the horizon if certain levels are held.
External Order Block (EXT OB): Located around the $2720 level, this area represents a key demand zone. Price may look to revisit this zone before any significant bullish reaction.
Potential Scenario: If the price tests the EXT OB level and shows a strong rejection, we might see a bullish rally, potentially targeting the recent high near $2790.
Outlook: A bullish scenario may unfold if the EXT OB at $2720 holds as a support level. Traders could look for potential entries upon confirmation of reversal patterns in this zone, with targets set towards the previous high.
Break of Structure (BOS): The recent BOS suggests a shift in momentum, indicating that a bullish reversal could be on the horizon if certain levels are held.
External Order Block (EXT OB): Located around the $2720 level, this area represents a key demand zone. Price may look to revisit this zone before any significant bullish reaction.
Potential Scenario: If the price tests the EXT OB level and shows a strong rejection, we might see a bullish rally, potentially targeting the recent high near $2790.
Outlook: A bullish scenario may unfold if the EXT OB at $2720 holds as a support level. Traders could look for potential entries upon confirmation of reversal patterns in this zone, with targets set towards the previous high.
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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.