GOLD (XAUUSD): What to Look At Today 🥇

Hey traders,

A lot of questions about Gold.
As we discussed on yesterday's live stream, the price is currently approaching a lower boundary of a major demand zone on a daily.

Analyzing the intraday perspective we may spot a falling wedge pattern and an inverted h&s pattern inside on 1H time frame.
Our trigger to buy will be a bullish breakout of a neckline of the h&s pattern.
Wait for an hourly candle close above 1890 - 1895 area.

Then a bullish move will be expected to 1907 / 1924 levels.

If the price breaks the underlined yellow structure on a daily,
setup will be invalid and a further decline will be expected.

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Commentaire:

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