XAUUSD 4hour Analysis January 1st, 2023
Gold Bullish idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We have been seeing gold turn very bullish but we also noticed a consolidating pattern which usually suggests a large move is imminent.
Going into this week we’re looking to continue with the bullish trend. The safest scenario would be to see another rejection off of our 1800.00 support zone with strong bullish conviction to enter on.
Look to target higher toward 1850.00
Trade scenario 2: For us to consider gold bearish again we would need to see price action break below 1800.00 and form bearish structure below.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We have been seeing gold turn very bullish but we also noticed a consolidating pattern which usually suggests a large move is imminent.
Going into this week we’re looking to continue with the bullish trend. The safest scenario would be to see another rejection off of our 1800.00 support zone with strong bullish conviction to enter on.
Look to target higher toward 1850.00
Trade scenario 2: For us to consider gold bearish again we would need to see price action break below 1800.00 and form bearish structure below.
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