Here is our in-depth detailed view on XAUUSD. Potential opportunities and what to look out for. This is a detailed overview on the pair sharing possible entries and important Key Levels.
Alright first, taking a look at XAUUSD from a lower time-frame. For this we will be looking at the m15 time-frame.
As of right now, we are consolidating on
XAUUSD The best “signal” for now is to sit on our hands and wait for a clear break. Right now we are in a range from around 2905.6 and 2896. Until we get a clear break, we can’t know the direction of the pair just yet. So, breaking down everything and understanding the importance of Key Levels we have several outcomes possibly in play.
Scenario 1: BUYS at the break to the upside (from the consolidation area)
- We broke above our consolidation area.
With the break to the upside, we can expect to see 2915 or a deeper revisit of 2920. At this point we would have to see if we make any pullbacks, possibly revisiting the top of the consolidation area (now becoming our support).
Scenario 2: SELLS at the break to the downside (from the consolidation area)
- We broke below our consolidation area.
With the break to the downside, we can expect to see lower levels such as 2880. At this point we would have to see if we make any pullbacks and continue chugging away to the downside. With the breaks of current lows we have on gold, we can expect drops even down to 2840.
KEY NOTES
- XAUUSD is consolidating.
- Breaks to the upside would confirm buys.
- Breaks to the downside would confirm sells.
- Possible deeper digs to the upside from 2915.
Happy trading!
FxPocket
Alright first, taking a look at XAUUSD from a lower time-frame. For this we will be looking at the m15 time-frame.
As of right now, we are consolidating on
XAUUSD The best “signal” for now is to sit on our hands and wait for a clear break. Right now we are in a range from around 2905.6 and 2896. Until we get a clear break, we can’t know the direction of the pair just yet. So, breaking down everything and understanding the importance of Key Levels we have several outcomes possibly in play.Scenario 1: BUYS at the break to the upside (from the consolidation area)
- We broke above our consolidation area.
With the break to the upside, we can expect to see 2915 or a deeper revisit of 2920. At this point we would have to see if we make any pullbacks, possibly revisiting the top of the consolidation area (now becoming our support).
Scenario 2: SELLS at the break to the downside (from the consolidation area)
- We broke below our consolidation area.
With the break to the downside, we can expect to see lower levels such as 2880. At this point we would have to see if we make any pullbacks and continue chugging away to the downside. With the breaks of current lows we have on gold, we can expect drops even down to 2840.
KEY NOTES
- XAUUSD is consolidating.
- Breaks to the upside would confirm buys.
- Breaks to the downside would confirm sells.
- Possible deeper digs to the upside from 2915.
Happy trading!
FxPocket
Trade closed: target reached
XAUUSD has hit 2925 as expected.
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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.
Join us for free at t.me/fxpocket or visit fxpocket.com
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.