XAUUSD 1H Chart - 23rd April (Price Action Confirmation? )
With regards to XAUUSD right now, as mentioned on my previous post on 21st April, price action on the hourly candles will dictate whether or not I will do range trading or between 2324,2325-2420, currently it seems I won't be opting for range trading, as there is a clear break on 2324-2325 levels.
Based on my post that on 13th April , I am assuming that XAUUSD is currently undergoing wave 4 and with wave 2 being a heavier retracement of wave 1, wave 4 should not be a heavy retracement as well, thus I will keep on setting my initial take profits at 0.382 and 0.5 on the 2-3 leg which is at approximately 2195 and and 2120.
Based on my post that on 13th April , I am assuming that XAUUSD is currently undergoing wave 4 and with wave 2 being a heavier retracement of wave 1, wave 4 should not be a heavy retracement as well, thus I will keep on setting my initial take profits at 0.382 and 0.5 on the 2-3 leg which is at approximately 2195 and and 2120.