XAUUSD INTRA MARKET UPDATE ANALYSIS MARCH 15, 2021
Updated
OVERALL TREND: BEARISH ON THE DAILY, BUT A BULLISH FLAG FORMING ON THE WEEKLY TF
On the 1H TF we see a previous support levels that have been tested over time as support to the upside.
Price may consolidate around this zone.
We could either wait for a breakout of that zone or trade reversals within that zone.
High probability that buyers are in control and market will continue to the bull side.
On the 1H TF we see a previous support levels that have been tested over time as support to the upside.
Price may consolidate around this zone.
We could either wait for a breakout of that zone or trade reversals within that zone.
High probability that buyers are in control and market will continue to the bull side.
Note
Going long once the candle closes in or above our zone of resistance. A lot of buying pressure.
Note
Price still at a corrective phase.Note
Price hit our resistance zone and couldn't break through to higher highs. Rejected and may potentially retest the zone between 1721.948 and 1718.321.We'll see what happens then and take a long or a short position accordingly.
Note
An important area of value broken. Waiting for a confirmation candle to potentially go long.
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