XAUUSD MARKET REVERSAL (BUY)

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During Friday’s NFP we saw heavy selling pressure on Gold. With Gold showing clear market structure breaking the previous higher low swing high, a sign of market reversal is in place creating a new higher high.

💡Scenario 1

Waiting for price to retest demand zone, and if it doesn’t break below we can aim to enter at this demand zone for buys. Targeting previous supply zones.

💡Scenario 2

If price breaks below the demand zone I will wait to see how price reacts at the previous demand zone for a better buy entry to the upside.

🧠CONCLUS

If all this is invalid then we will see a continuation to the downside. However, looking at this market structure and a trend reversal taking place creating higher higher and higher lows, it is a clear indication that price is reversing and becoming bullish. Wait for confirmation of candlesticks on 15min & 5min time frame, for either a bullish engulfing candlestick or, a shooting star.

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