akyong
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XAUUSD - Potential Follow Through On Gold

OANDA:XAUUSD   Emas/Dolar U.S
Price is currently forming a diagonal structure ( wedge ) on the H4 timeframe. This gives us a bearish bias in the immediate term.

However, we are still expecting price to eventually head higher, at least for another swing towards the previous trend line around the 1271 - 1279 area. Perhaps from there, we might see more selling pressure for a long term short trade. (Refer to the daily timeframe as shared before)

Disclaimer - this is not a trade call. Make sure you do your own due diligence before taking any trade.
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