Analyzing 4-hour chart for XauUsd
The area between 2324 and 2307 is identified as a significant support zone (order block).
Next Order Block: The area between 2361 and 2357 is the next significant resistance zone (order block).
Bullish Scenario:
A bullish pin bar candle has formed,
There is a fair value gap between 2342 and 2328. If the FVG is filled without significant rejection, the price may continue to the next order block (2361-2357).
Bearish Scenario:
If the price fails to hold the blue order block (2324-2307), it may indicate further downside potential.
A rejection from the FVG (2342-2328) could also lead to a retest of lower support levels within the blue order block.
Always use proper risk management and consider external factors that may influence the gold market.
Next Order Block: The area between 2361 and 2357 is the next significant resistance zone (order block).
Bullish Scenario:
A bullish pin bar candle has formed,
There is a fair value gap between 2342 and 2328. If the FVG is filled without significant rejection, the price may continue to the next order block (2361-2357).
Bearish Scenario:
If the price fails to hold the blue order block (2324-2307), it may indicate further downside potential.
A rejection from the FVG (2342-2328) could also lead to a retest of lower support levels within the blue order block.
Always use proper risk management and consider external factors that may influence the gold market.
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