Hello Guys, Last week we got reached the target on "SELL" Position for XAUUSD to 1626.899 then just a moment after reaching the target the price got big rejected and make the new impulse bullish. so the question now is, what will the price behave next ?
Technically I see the price will make the corrective structure first before its continue upward. as yo can see on 4 H Timeframe, Awesome Oscilator has shown that market price is in divergen situation, which mean the pullback is more likely in the market because of the oversold price.
Due to that condition I suggest to focus on Buy/Long position.
where we can put the entry ?
For the entry position we can put in Supply and Demand . I see in the chart based on 4 H Timeframe we got the demand area around 1624.51-1634.87, or we can change the timeframe to get more detail where the Supply and Demand Zone, Based on 1 H Time Frame we got the supply and Demand Zone is in around 1639.22-1644.90.
When we can entry ?
Guys, If you look at to the RSI Indicator you will know to take BUY directly is not wise decision, because RSI shown is in above 50 % level and will reach in over bought condition. and also if you jump in to the market directly it will potentially to put you in "big floating loss" then hit your stop loss or even will stop out your acount.
Technically I see the price will make the corrective structure first before its continue upward. as yo can see on 4 H Timeframe, Awesome Oscilator has shown that market price is in divergen situation, which mean the pullback is more likely in the market because of the oversold price.
Due to that condition I suggest to focus on Buy/Long position.
where we can put the entry ?
For the entry position we can put in Supply and Demand . I see in the chart based on 4 H Timeframe we got the demand area around 1624.51-1634.87, or we can change the timeframe to get more detail where the Supply and Demand Zone, Based on 1 H Time Frame we got the supply and Demand Zone is in around 1639.22-1644.90.
When we can entry ?
Guys, If you look at to the RSI Indicator you will know to take BUY directly is not wise decision, because RSI shown is in above 50 % level and will reach in over bought condition. and also if you jump in to the market directly it will potentially to put you in "big floating loss" then hit your stop loss or even will stop out your acount.
Trade closed: target reached
Succeeded Trade, the price jumped from the demand zone in 1 h timefrime 1639.22-1644.90. and up just to get TP (Take Profit) then price pullback.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.