XAUUSD Gold 4h breakdown and analysis for buys
Looking at the 4h timeframe there is a bullcase for buys at this level.
1. we are at a key level of support
2. the smaller bearish channel has seen us bounce from the lower band of the channel which aligns with the support level
3. the larger bearish channel is yet to see a test of the upper band, which should we break up through the smaller channel, retest, we can then see price move back up.
1. we are at a key level of support
2. the smaller bearish channel has seen us bounce from the lower band of the channel which aligns with the support level
3. the larger bearish channel is yet to see a test of the upper band, which should we break up through the smaller channel, retest, we can then see price move back up.
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.