xauusd what next( looks like conditions has changed
well looking at gold on the weekly daily and 4h time frame what can see here
looking at gold we can see that a range formation has been formed in gold.
at this point we have not seen the top of the range at 2074.00
the previous high at 2074
and lower high at 1959
could be a indication that the turn to even lower levels is possible
since gold has been at 2074 two times already
in August 2020 and now recently.
the range formation is set between 2074 as the high and 1650 some where as the low
giving us a strong supply and demand levels to focus on in the future
but as per right now we need to look at 1650 as a possible high probability buy
there is a change to go short
since gold has already respected and broken below the 1822
1822 can be see as a sell entry point to lower level
the reason why 1822 is a strong resistance because of the break below the hammer that was formed on the 17 feb
the rsi also indicate that we could still move to down as the market has not hit the oversold level on the daily time frame.
so lets look at a buy at 1672 some where or if possible enter a sell at current level
looking at gold we can see that a range formation has been formed in gold.
at this point we have not seen the top of the range at 2074.00
the previous high at 2074
and lower high at 1959
could be a indication that the turn to even lower levels is possible
since gold has been at 2074 two times already
in August 2020 and now recently.
the range formation is set between 2074 as the high and 1650 some where as the low
giving us a strong supply and demand levels to focus on in the future
but as per right now we need to look at 1650 as a possible high probability buy
there is a change to go short
since gold has already respected and broken below the 1822
1822 can be see as a sell entry point to lower level
the reason why 1822 is a strong resistance because of the break below the hammer that was formed on the 17 feb
the rsi also indicate that we could still move to down as the market has not hit the oversold level on the daily time frame.
so lets look at a buy at 1672 some where or if possible enter a sell at current level
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