XAU / USD Intraweek bullish structure
Hi guys, I am currently still bullish on gold until we test the upper boundary of the compression triangle around 1850.
The blue lines around 1828 indicate a pivot point so once the 4 hour closes above this take that as an entry point or wait till a more desriable higher risk reward entry point at around 1817.
The DXY is looking more bearish on the higher time frames which is bullish for gold
Smart money buys were entered at 1790 and selling pressure wont come till 1830, then 1850
High inflation is still playing into market sentiment which is short term bullish for gold
More fundamental catalysts are needed for us to get larger moves since volume in gold is lower right now
Expect volatility with Thursday's CPI move, expected higher and I imagine will be a bullish catalyst for gold
Just take BUYS for now
The blue lines around 1828 indicate a pivot point so once the 4 hour closes above this take that as an entry point or wait till a more desriable higher risk reward entry point at around 1817.
The DXY is looking more bearish on the higher time frames which is bullish for gold
Smart money buys were entered at 1790 and selling pressure wont come till 1830, then 1850
High inflation is still playing into market sentiment which is short term bullish for gold
More fundamental catalysts are needed for us to get larger moves since volume in gold is lower right now
Expect volatility with Thursday's CPI move, expected higher and I imagine will be a bullish catalyst for gold
Just take BUYS for now
GreyTrades
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