Using the 4hr structure for directional bias
Using the unfilled gap as long term target
Entry was made in London session using the 15minute time frame engulfing entry
Initial target is 1:5, will personally not hold for that long until unfilled gap
Maybe will consider holding if the 15min structure also breaks bullish
Lankss
Using only the 15minute timeframe to analyse the structural bias, i can give confidence that XAUUSD is now Bullish until otherwise.
After a prolonged period of Sellers in this market, price had faced a reversal after breaking a 'major' high (1891) at the time of 4:00am Monday 21st August.
I have now marked out my three key support zones in which i anticipate...
According to Daily structure, we're at a nice support.
The minutes and hourly are seeming to come to an exhaustion, preparing for the moves upwards.
The dollar weakness also may go in its favour, if I am not already stopped out from my tight SL.
Tp1 is at the last hourly high
Tp2 is the Fib retracement level 1.61 for a potential second high
Being in this recession, my technicals give me a vague idea that a collapse will be coming shortly.
The Monthly Timeframe clearly indicates a recent bearish break of 1.42000 in September. GU is most definitely 'short' in the long term (according to technicals).
On the daily, it was quite hard for me to conclude even with my own developed strategy. However, it...
The dollar showed indication of continued bearish movement.
Will the pound prove positive for the beginning of 2023?
My bias is on it reaching 1.24500 within a couple days.
I guess i'll see how i'll adapt
