XAUUSD - New Mapping: Possibilities
Here I drew golden zones using different highs and lows.
Two of which are fresh zones where price can possibly bounce up (since current sentiment is Bullish).
Also, ever since the bullish breakout on Friday, we saw 2 Major Highs - around 1661.47 and around 1673.15,
so I marked a trendline (upper part of channel) and duplicate it to make a lower part of channel and as guide.
I could be wrong with the lower channel coz we do not know if it will create a parallel one or will see a wedge type just like in the past weeks.
We will observe more.
For reversal trading, always consider divergence, QM pattern, and candlestick rejection as price hits Order Blocks, Supply/Demand Levels, and Fib levels
before considering opening a trade.
Disclaimer: these are just ideas and not a financial advise.
Two of which are fresh zones where price can possibly bounce up (since current sentiment is Bullish).
Also, ever since the bullish breakout on Friday, we saw 2 Major Highs - around 1661.47 and around 1673.15,
so I marked a trendline (upper part of channel) and duplicate it to make a lower part of channel and as guide.
I could be wrong with the lower channel coz we do not know if it will create a parallel one or will see a wedge type just like in the past weeks.
We will observe more.
For reversal trading, always consider divergence, QM pattern, and candlestick rejection as price hits Order Blocks, Supply/Demand Levels, and Fib levels
before considering opening a trade.
Disclaimer: these are just ideas and not a financial advise.
Disclaimer
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