GOLD
XAUUSD Technical Analysis 11.07.2022 1h chart
– Previous Weekly candle closed Strong Bearish at around 1742 breaking through multiple Supports on the higher timeframe on the Monthly, Weekly, Daily and the 4h.
– Price has been consolidating on the 4h / 1h between 1735 – 1748 since last Tuesday after London Close.
– Indeed there are trading Setups within the 134 Pip No Trade Zone but ideally is to wait for the price to break out of the Zone with a confirmation to have a high probability trading Setup and cleaner move.
– Buys on close above 1748.500 targeting Daily previous Support formed on (12.10.2021) at 1754.200 leaving Runners to 30min previous Support formed on (06.07.2022) at 1760.200.
– Sells on close below 1735.100 targeting Daily Support formed on (31.09.2021) at 1726.500 leaving Runners to Monthly Wick Fill from September 2021 at 1721.500.
– Previous Weekly candle closed Strong Bearish at around 1742 breaking through multiple Supports on the higher timeframe on the Monthly, Weekly, Daily and the 4h.
– Price has been consolidating on the 4h / 1h between 1735 – 1748 since last Tuesday after London Close.
– Indeed there are trading Setups within the 134 Pip No Trade Zone but ideally is to wait for the price to break out of the Zone with a confirmation to have a high probability trading Setup and cleaner move.
– Buys on close above 1748.500 targeting Daily previous Support formed on (12.10.2021) at 1754.200 leaving Runners to 30min previous Support formed on (06.07.2022) at 1760.200.
– Sells on close below 1735.100 targeting Daily Support formed on (31.09.2021) at 1726.500 leaving Runners to Monthly Wick Fill from September 2021 at 1721.500.
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