Gold (XAUUSD): Multiple Time Frame Technical Outlook 🟡
Gold has recently violated a key daily structure resistance.
The price has nicely respected that after a retest and the market keeps growing now.
The momentum definitely started to slow down.
I spotted a rising wedge pattern on 4H and a contraction of a price action.
If you want to buy gold, the best strategy will be to buy after a pullback
I would suggest looking for a bearish breakout of the wedge.
Its violation will most likely initiate a correctional movement.
There are 2 safe points to look for buying opportunities:
1871 - 1879 support and a major rising trend line.
I will post an update once I spot a decent trading setup.
❤️Please, support my work with like, thank you!❤️
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
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.