XAUUSD - Short + Medium term direction prediction
Trend is up on higher time frames and this seems to be at a decision point. I will apply the higher timeframe bias onto the medium and short term ones = bullish. Paired with higher highs and higher lows on the 4H, I would say its relatively safe to look for areas of value to get involved.
The primary target would make a decent short term target as there will be plenty of stop losses sitting above that structure level so I would not be surprised to see an aggressive movement toward this level and even further toward the proposed secondary target marked.
I would like to clarify that I dont trade with extended targets like the secondary and tertiary ones marked. This might be handy for people who leave runners on their trades.
Also keep in mind that I am only providing potential target levels here. The best thing to do would be to drop down to lower timeframes and look for good areas of value to enter.
The primary target would make a decent short term target as there will be plenty of stop losses sitting above that structure level so I would not be surprised to see an aggressive movement toward this level and even further toward the proposed secondary target marked.
I would like to clarify that I dont trade with extended targets like the secondary and tertiary ones marked. This might be handy for people who leave runners on their trades.
Also keep in mind that I am only providing potential target levels here. The best thing to do would be to drop down to lower timeframes and look for good areas of value to enter.
Note
S : 4
C : 80,20 - 47,53
R : 68,32
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