XAU, is undergoing massive trend transition based on weekly data. It bounced from the 1930 area major order block support, a 0.50 FIB LEVEL, where most position takers do initial buying.
On weekly data, price line is already conveying something that it did in the past -- oversurfaced (overtaking) lines has finally appeared, a prerequisite of an incoming significant price change.
Last time it did this was on March 2023 before the +$200 price augmentation in price.
On daily data, higher lows on histogram has been spotted -- hinting of an upside reversal play. Net buy volume has significantly started increasing after touching the 1930 area support.
A revisit to recent peak at 2000 level is possible within the next few weeks -- factoring in breakout play.
Spotted at 1950.
TAYOR.
Safeguard capital always.
On weekly data, price line is already conveying something that it did in the past -- oversurfaced (overtaking) lines has finally appeared, a prerequisite of an incoming significant price change.
Last time it did this was on March 2023 before the +$200 price augmentation in price.
On daily data, higher lows on histogram has been spotted -- hinting of an upside reversal play. Net buy volume has significantly started increasing after touching the 1930 area support.
A revisit to recent peak at 2000 level is possible within the next few weeks -- factoring in breakout play.
Spotted at 1950.
TAYOR.
Safeguard capital always.
Trade active
MACRO VIEW: TRI-MONTHLY CHART DATA:When tri-monthly shows what he plans to do. HE DOES.
Higher lows on both histogram + price.
Trade active
Gold, back at strong major order block support.
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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.