XAUUSD Update Jan 27

GOLD has reached the major Support level and pulled back into consolidation zone . The market is trading in an ascending channel . Price action made a false break of the consolidation zone many times, As we can see, #GOLD has made HL & HH on 1h & 4H timeframes. We expect a short term Bounce from the 1920 area to create a NEW HIGH.

Also Take Note That #GOLD has not yet closed below the Daily demand zone at 1924 - 1931

The Best way to follow my Analysis is if the following conditions apply.

Conditions -
1. Wait for the Market to Show you some (Rejection / Confirmation / Direction)
2.Wait for confirmation(Price Action Confirmation ( Pinbar , Bullish or Bearish engulfing / Break of structure Aka Support Or Resistance)
3.Do your Own analysis! (Draw Trend Lines / Support & Resistance Zones / SND )
4.Always Use Risk Management (Risk 1% of your capital)
5.Entry Should be Made on The 4H Timeframe (Only if you have Confirmation)
6.Trade at own risk!
&. Plan Your Trade & Trade The Plan!

Let Me know if you have any Questions or Comments Below!
Negative Or Insulting Comments Are Not Welcome

See You in the next Analysis!
Global Fx Education