Here is my price action analysis for Gold on a 4H.
The market is currently trading in a sideways after
an extended up movement that was completed 5th of February.
We see a horizontal parallel channel formation.
To confirm the next bullish wave, I suggest waiting for a breakout
of its resistance.
4H candle close above 2887 will confirm the violation.
A bullish continuation will be expected at least to 2900 then.
Alternatively, a bearish breakout of the support of the channel
may trigger a correctional movement.
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
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⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
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.