💡 XAUUSD: Signal for the first day of the year
Updated
HAPPY NEW YEAR - 2024
Hope you have a wonderful new year
ANALYSIS GOLD TODAY:
Gold had its second consecutive day of decline, creating a price bar in the form of a bearish pinbar model, with a long upper shadow and closing close to the bottom, thereby reflecting the above blocking selling force. Gold continues to be blocked around the previous peak. At this time, the price is moving sideways in an overview that is more inclined towards price increases.
The downtrend structure is maintained in H1 gold as the price creates a new low. There is currently a rebound and touching the old PPZ again. Observing the price behavior around this PPZ, we can see that the price is being blocked. You can wait for the push back down and then rebound to retest to sell. In case the price is pushed up further, you can wait to sell at the strong PPZ above.
Hope you have a wonderful new year
ANALYSIS GOLD TODAY:
Gold had its second consecutive day of decline, creating a price bar in the form of a bearish pinbar model, with a long upper shadow and closing close to the bottom, thereby reflecting the above blocking selling force. Gold continues to be blocked around the previous peak. At this time, the price is moving sideways in an overview that is more inclined towards price increases.
The downtrend structure is maintained in H1 gold as the price creates a new low. There is currently a rebound and touching the old PPZ again. Observing the price behavior around this PPZ, we can see that the price is being blocked. You can wait for the push back down and then rebound to retest to sell. In case the price is pushed up further, you can wait to sell at the strong PPZ above.
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