Hi everyone
As traders from crypto market approach the GOLD market ,We may get to see some up trend from here on.
From the looks of it , there is a weak bear trend in 4 hours chart on XAUUSD. There might be a bounce from the bottom of the bear channel or before that.This bounce will create a ABC pattern ( whether LL or HL) as LL (the RED arrow) our A current bar's high B and the next move down and rebound as C.
For now we have 1825$ and the bottom of the weak bear channel as support and for resistance, there is 1840$ and top of the bear channel.
Hope this analysis helps you in a way.
I will gladly answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.
As traders from crypto market approach the GOLD market ,We may get to see some up trend from here on.
From the looks of it , there is a weak bear trend in 4 hours chart on XAUUSD. There might be a bounce from the bottom of the bear channel or before that.This bounce will create a ABC pattern ( whether LL or HL) as LL (the RED arrow) our A current bar's high B and the next move down and rebound as C.
For now we have 1825$ and the bottom of the weak bear channel as support and for resistance, there is 1840$ and top of the bear channel.
Hope this analysis helps you in a way.
I will gladly answer your questions,Just leave a comment below and PRESS THE LIKE BOTTOM please.