XAUUSD - 4H levels and Trend
Please zoom out to get a clearer picture. What are we looking at here… You can see the trend and levels are being respected.
Now what we want to see If we’re going up is support around 1775, this will form an inverse head and shoulder pattern on this timeframe as well as a double bottom on the daily timeframe.
For us that would be enough confirmation to test the long trade towards the higher levels of 1810-20.
Breaking the 1775-70 level and closing below it and we’re on for another flush on Gold. This chart is confirming our level of 1750 that we’ve been targeting for over two months and potentially lower.
Remember, it doesn’t always have to go and touch the trendline. It can form a support of resistance at any key level and move the opposite way.
Now what we want to see If we’re going up is support around 1775, this will form an inverse head and shoulder pattern on this timeframe as well as a double bottom on the daily timeframe.
For us that would be enough confirmation to test the long trade towards the higher levels of 1810-20.
Breaking the 1775-70 level and closing below it and we’re on for another flush on Gold. This chart is confirming our level of 1750 that we’ve been targeting for over two months and potentially lower.
Remember, it doesn’t always have to go and touch the trendline. It can form a support of resistance at any key level and move the opposite way.
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🟡 Disclaimer: Not financial advice. For educational purposes only.
🔴 TWITTER: twitter.com/knightsofgold2
🟢 INSTAGRAM: instagram.com/knights_of_gold/
🟡 Disclaimer: Not financial advice. For educational purposes only.
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