Gold rejection from buyers / Trading Range phase / H1
I upload video analysis of XAUUSD see the market bearish. After market got opened, we had strong sold off ( 200 pips ) but it didn't get to the zone I marked up for you.
Buyers bought that candle and as you see it has a long tail below that took the liquidity.
Now we have a support key level ( Gold, $1782 - $1784 ) so try to buy at this level if price fall down.
Also we have a resistance key level ( Red, $1809 - $1812 ).
We have to choices now:
1) Buy with higher resistance target ( Top of TR )
2) Sell with lower support target ( Bottom of TR )
Selling is more reasonable to me below the middle of trading range. ( Here we have also a bearish orderblock. )
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
Buyers bought that candle and as you see it has a long tail below that took the liquidity.
Now we have a support key level ( Gold, $1782 - $1784 ) so try to buy at this level if price fall down.
Also we have a resistance key level ( Red, $1809 - $1812 ).
We have to choices now:
1) Buy with higher resistance target ( Top of TR )
2) Sell with lower support target ( Bottom of TR )
Selling is more reasonable to me below the middle of trading range. ( Here we have also a bearish orderblock. )
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
הערה:
190 pips upward movement
הערה:
Hawkish Powell's tone strengthened the US dollar and made gold fall down.
הערה:
144 pips upward move from highlighted support zone, but still bearish !
