XAUUSD Long structure with double entries!

25 ส.ค. 2023

On gold, we have a bullish setup supported by a significant trendline that has generated a lot of liquidity. The price is currently sandwiched between two swings, specifically between 1924 and 1912. There are two expectations:

Firstly, a potential price increase towards a block supported by the latest 4-hour candle that led to the breakout of the 1922 swing low level. Additionally, there's a block sustained by a 4-hour candle that caused the breakout of a swing low at the 1900 level, which was previously a resistance zone and now acts as a support. I will wait for the price to enter either of these two zones and will seek structural breakouts to confirm a long setup in the case of the lower block, or a short setup in the case of the upper block. Happy trading to everyone!