XAUUSDXAUUSD 2021 Jul 05 Week
Price broke through 1761 and returned to that level to become a nice shakeout,
presenting a long opportunity.
Weekly chart: A previous wide spread down bar on high volume, followed by shakeout = SOS
Daily chart: Haven't formed a higher low, TBC
H3 chart: back in a previous range. Will need 1795 to be broken and supported if price
were to advance further.
Immediate resistance 1795
Strategy:
If price stays in rotation: Red/Green zone = preferred entry
If rotation zone narrows: stay out of market
50% level: Long if it becomes short tern support, short if it becomes short term
If price breaks out and support at 1790: long opportunity
Immediate support 1772
Critical Support = 1761
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.