XAUUSDXAUUSD 2021 Jul 12 Week
Strength is confirmed, prefer to keep to long, and re-entry on retracement.
Weekly chart: Shakeout SOS confirmed with this week's higher close.
Daily chart: Higher closes daily confirms strength
H4 chart: SOS bar 2 closing higher than SOS bar 1.
Immediate resistance 1819
Immediate support 1794
Strategy:
Long preferred.
If price stays in rotation: Red/Green zone = preferred entry
If rotation zone narrows: stay out of market
on price retracement: long opportunity
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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.