The analysis conducted on the XAU/USD pair is based on support and resistance levels. By plotting S/R, I identified these zones, and considering the current uptrend after a correction last week, I observed the following:
Following these points, I placed a buy order at this level, and I believe the analysis will hold true.
- H4 (4-hour chart): The trend and RS zones are evident.
- M30 (30-minute chart): We can observe the price action, which is present twice, indicating a retest.
Following these points, I placed a buy order at this level, and I believe the analysis will hold true.