XAUUSD 4H time frame structure

Updated

After gold fell sharply beyond the 4-hour SwingLow, there was another wave of price increases and today's price increased again to the strong supply zone, so in my opinion, gold will have a strong decline again.

Note

The price decreased and crossed the CHOCH position in the 4-hour time frame. signaling that the price will reverse and continue to decrease.

Note

After a pullback, the price increased again and surpassed the previous peak. Then a candle whose body is below the lowest point of the previous candle will create a new high. So the price will decrease again.

Note

After surpassing the top of the daily frame, the price dropped sharply, creating a SWEEP signal in the daily frame and could not break the Swinghigh Strong 4H. I maintain the view that gold will decrease

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