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Monday, April 05, 2021

XAUUSD Analysis April 5, 2021

XAUUSD Analysis April 5, 2021


On the monthly timeframe price is overall bearish as we have broken support and close lower. Last month did close with low volume signaling that some sort of reversal could be in play here
On the weekly timeframe price action has formed to represent a reversal pattern.

I need to see how price reacts on the daily timeframe before taking any long opportunities as we are till below the resistance level . I have mapped out two potential scenarios on the H4 timframe as I want to see how price does at this level before getting into a position

from Trading Ideas
via gqrds

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