quangcttn

XAUUSD market structure at 4-hour timeframe

quangcttn Updated   
EIGHTCAP:XAUUSD   Gold Spot / U.S. Dollar
4H is swing bearish => curent is pullback up
We can sell down when the price rises to OB
Comment:
The price increased and broke through IDM
Comment:
The price drops when it tap on OB
Comment:
The market structure of XAUUSD remains unchanged. The price wave follows the downtrend of the 4-hour time frame
Comment:
In the 15-minute time frame, there is a downtrend, the price can only increase again when there is a CHOCH reversal signal in the 15-minute time frame.
Comment:
The price increased and broke the strong swing peak, so in the 4-hour time frame it changed to an uptrend

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.