H1 & H4 Timeframe Analysis
Gold is currently showing a bullish trend due to the ongoing Middle East crisis.if th Escalation between Iran & isreal became more tense then focus on buying gold on every DIP.
Bullish scanario:
I’ve identified my re-entry zones and plan to buy on every dip, focusing on scalping with buy positions only.
3380-3390 is the optimal buying area.
At moment 3410 is the buying area because the relative trend line matched at this place.
My target is the potential extension towards the $3480 milestone.
Bearish Scenario:
However, if gold closes the H4 below the $3380 level, I expect it to shift into a ranging market 3380-3330 and I will reassess my outlook towards 3355 1st then 3335 on second target.
#XAUUSD
Gold is currently showing a bullish trend due to the ongoing Middle East crisis.if th Escalation between Iran & isreal became more tense then focus on buying gold on every DIP.
Bullish scanario:
I’ve identified my re-entry zones and plan to buy on every dip, focusing on scalping with buy positions only.
3380-3390 is the optimal buying area.
At moment 3410 is the buying area because the relative trend line matched at this place.
My target is the potential extension towards the $3480 milestone.
Bearish Scenario:
However, if gold closes the H4 below the $3380 level, I expect it to shift into a ranging market 3380-3330 and I will reassess my outlook towards 3355 1st then 3335 on second target.
#XAUUSD
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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.
Related publications
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.