XAUUSD on the 15 Minute timeframe:

15 Sep

Price is following a powerful uptrend making a series of higher highs & lows. I am looking to see if price will revisit the last higher low structure support once more, which also aligns with the 3rd touch to the ascending channel bottom. From this zone I would be looking for a lower timeframe reaction, and a potential continuation of the uptrend for a new potential higher high aimed towards the top of the channel.

A great setup I am looking at which could provide a high Reward to Risk ratio. Waiting for confirmation in the zone below to look for a long setup.

Have a great week traders!

15 Sep

Nota

15 Minute setup may look like this

15 Sep

Nota

Hourly Timeframe: Also the zone is a previous area where volume and momentum occured from the zone of interest, which shows an indication that if price re visits this zone volume may return again to push price back to the upside.

15 Sep

Nota

4 Hour: On the 4 hour timeframe price that volume has increased on the momentum zones as well showing a great alignment with the lower timeframe outlook.

16 Sep

Nota

Price didnt quite react as anticipated for market open, but the zone of interest below still remains an area where I will be looking for volume