By looking at the 4H time frame, we can see that support and resistance is forming.
Prices has been bullish and now starting to consolidate.
Once the price reaches the support line, we wait if the price breaks the newly formed bearish trend on the smaller time frames and continue bull upwards.
They say trend is your best friend. :)
Patience is key, stay safe and...
XAUUSD is on a ultra bullish trend and it keeps making new highs, I believe that after a pullback and touches the support.
There's a chance that XAUUSD will continue to bull and we will be able to trade with a much higher risk reward ratio once it touches the support.
Use proper risk management and happy trading. :D
First time posting my analysis here, hope you...
