XAUUSD Gold breakdown 4h timeframe
This past weekend I drew these channels out stating we had tapped a key level of support as well as the bottom of both channels. An anticipation for price to break out, retest it and move towards the upper band/limit of the bigger channel.
As it stands, that is exactly how price played out which indicates a bullish swing in price.
HOWEVER
The current daily candle has no bottom wick. This is important because it means no liquidity has been grabbed. I'm anticipating the high to be printed and then a continuation down after this 4 day rally.
As it stands, that is exactly how price played out which indicates a bullish swing in price.
HOWEVER
The current daily candle has no bottom wick. This is important because it means no liquidity has been grabbed. I'm anticipating the high to be printed and then a continuation down after this 4 day rally.
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