XAUUSD Analysis (11th April 2024)

Market Analysis PT2/2 (11th April 2024)

XAUUSD Analysis

On the 1 hour timeframe, price has created a bearish Change of Character with a body candle close, caused by the movement from CPI.

This means that the 1 hour timeframe has shifted bearish and shorts are more favoured.

On the 15 minute timeframe, price has created an unmitigated orderblock that hasnt been tested. Ideally i want to see price come up into the 15 minute bearish orderblock before looking for potential sells all the way down to the 1 hour Bullish orderblock at 2312.

Should price fall towards the 1 hour Bullish Orderblock without testing the 15 minute bearish orderblock, we can look for potential BUYS once a bullish Change of Character has occurred minimally on the 5 minute or the 15 minute timeframe.