XAUUSD
On the monthly chart we have a bullish trend that is struggling to find momentum. There is a liquidity grab indicating a reversal is in the horizon targeting 1731 price handle.
On the daily charts we have a change of character that indicates a shift in order flow followed by a bullish correction that failed to break the previous high.
On the 4 hour chart we look at the bullish correction that has a shift in its internal structure confirming our earlier bearish bias. Presently, we have an active sell limit targeting the previous low of 1986.
Once a new low is formed we will look for bullish correction or bearish continuation opportunities.
On the daily charts we have a change of character that indicates a shift in order flow followed by a bullish correction that failed to break the previous high.
On the 4 hour chart we look at the bullish correction that has a shift in its internal structure confirming our earlier bearish bias. Presently, we have an active sell limit targeting the previous low of 1986.
Once a new low is formed we will look for bullish correction or bearish continuation opportunities.
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