💡 XAUUSD: Analysis May 17
Gold decreased yesterday, creating a bearish pinbar on D1. This price action shows resistance around the old peak confluence + round number 2,400. Gold D1 chart structure shows that the price is moving sideways in an upward trend.
Gold is pulling back down, falling to retest the confluence zone + the downward sloping trend line. Because the upward price trend is still the dominant trend in this time frame and also in D1, H1 gold today can wait for the upward push to complete the 1-2-3 pattern to create a bottom before retesting to buy. In case the price is pulled back down deeper, you can wait to buy H1 Gold from the trend line confluence below.
💡H1 trend: Gold moves sideways.
Today trading idea: Buy gold.
Gold is pulling back down, falling to retest the confluence zone + the downward sloping trend line. Because the upward price trend is still the dominant trend in this time frame and also in D1, H1 gold today can wait for the upward push to complete the 1-2-3 pattern to create a bottom before retesting to buy. In case the price is pulled back down deeper, you can wait to buy H1 Gold from the trend line confluence below.
💡H1 trend: Gold moves sideways.
Today trading idea: Buy gold.
Nota
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.