XAUUSD 2021 Aug 02 Week

31 ביולי 2021

XAUUSD 2021 Aug 02 Week

Uneventful week for Gold given the narrow range, except on Friday long from Green zone was good.

Weekly: Up bar closing in middle, some supply
Daily: Lower volume down bar closing off low = some demand
H3: Bar A showed bullish strength, Bar B demonstrated demand overcoming supply.

Strategy:
1) Price return to Bar A and shows support = long opportunity
2) If 50% is supported, will take a long to the red zone as first target.
3) Red/Green zone preferred entry where price remains in rotation.

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Have a profitable week ahead.