*****Week 30, Friday, 22 July 2022*****
OANDA:XAUUSD Based on the daily chart:
1. On 21 July, this is the first bullish engulfing candle appears since previous Lower High of the market structure and that was 38 days ago.
2. This bullish engulfing candle appears after the price tested the support area at 1680.
3. It also appears once the price has came into RSI...
*****Week 27, Wednesday, 29 June 2022*****
In this analysis, ATR(14-period) and the size of the body candle are used to determine the momentum of the candlestick. When the value of candle size is bigger than the ATR value, the analysis concluded that the momentum is higher than the average range. Thus, we can conclude that a continuation of the market structure...
