XAUUSDXAUUSD 2021 Jul 19 Week
Long preference worked out well last week.
Market was resisted at 50% of a previous trend, and returned to test a previous demand bar, not without surprise.
Weekly chart: Close at middle of bar = indecisiveness.
Daily chart: Price at bottom of D1 trend channel, uptrend still intact. Wide spread down bar, 1812 needs
to be supported to show demand is holding the market.
H4 chart: Some demand has supported the market at 1810, which is a test of demand at bar 1.
Immediate resistance 1834
Immediate support 1812
Strategy:
Monday will tell us if demand will hold.
1) If 1812 is supported, will look for long opportunity
2) Else will look to long opportunity at the lower green zones.
3) Green/Red zones remain preferred entry levels
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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.