Reason : It can bounce back after touching ema200 Resistance zone.. If market breaks the structure it will fly
Gold will go up , but we wont enter right now . we want gold to come back to one of the support zones and when it leaves the zone and goes upward we will go for buy setup ...
Be careful as it is still above all the ema.. If the market goes below the ema you can enter for a sell trade ..
Overall Trend is Bullish , But It can go down for correction to the middle pitchfork line and 50 EMA(or between 13 and 26 EMA) and go up again .. It is counter trend strategy ..
Dont Buy Gold Right Now. Wait for retracement .. 1) it can retest the resistance zone as a support and go up 2) Or, It can come back to the previously strong support zone or Trendline and go up .. For Now Please wait .
GOLD was rejected from the previous resistance zone and now support zone .. Gold Is overall up trend ..
It is breaking the resistance zone now and retrace.. then we will go for buy .. it can go to 1832 as it was a strong resistance area in past
It will go down till the previous support .. As it was a strong support zone previously .. So it may be a strong zone
After Breaking the major supports , gold can be bullish for sometime till 0.61 fibo level and then we will search opportunities to get into the SELL trade..
1807-1809 is a support level which was tested earlier times. If market fails to become bull again from that level, then we will look for another major support level ....There are a lot of buyers in that zone . Very strong zone ... Market can again shoot up to TP1 easily and TP2(if massive bull comes)
H4 TimeFrame GOLD can go down from the Upward channel ...
The Overall Trend is Bullish but it can react in the resistance area .. So.. It can go down for few pips
XAUUSD H4 Timeframe It will be bearish for sometime because it in resistance zone .. but After few dropping of the price it will go up finally ....
XAUUSD 4H Timefram Price dropped because it was in the minor resistance zone .. #1: It can go down to 0.618 Fibo level and go up.. #2: Or It can go down to the strong support zone and go up from there..
XAUUSD will be Bullish for sometime .. But not for long .. It will go up till the Channel line... If it goes down in case , you will not short quickly .. You need to wait till that zone retest and you short then .... For Now.. BUY
There are three possible moves in the market . #1: It can go down from now and go down till the previous support #2: It can go up and fall back from the decending channel #3: It can break the channel in upward direction and go up ... (Low Possibility ) Lets See. What happens..
It will retest the previous resistance turned into Support NOW..