XAU USD
After reaching the target areas on the 4-hour frame, we have two scenarios that the market has started to form with the aim of rising to the target:
The first scenario (drawn in white as shown in the picture): Decline now and take the buying areas then break the CHOCH area.
The second scenario (drawn in blue as shown in the picture): Break the X line then correct to the BC areas then take a new entry and stop and we cannot determine them now and this depends on the strength of the rise and how far it will reach after breaking the X line but the structure was drawn for clarification.
The first scenario (drawn in white as shown in the picture): Decline now and take the buying areas then break the CHOCH area.
The second scenario (drawn in blue as shown in the picture): Break the X line then correct to the BC areas then take a new entry and stop and we cannot determine them now and this depends on the strength of the rise and how far it will reach after breaking the X line but the structure was drawn for clarification.
Related publications
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.