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Gold at Ichimoku V target. Here is the next scenario

Comment

Gold Daily chart shows that the market has reached to V target at 1793.27 level on 21 Apr. Please refer to below Ichimoku analysis.

Ichimoku Analysis

- Market reached V target on 21 Apr
- Time cycle shows that the next Henka-Bi is 23 Apr

Also, below is Ichimoku 5 line analysis.
- Kumo (Senko span A and B) flat
- Kijun sen flat
- Tenkan sen flat
- Price in the Kumo

Next Scenario

Market is currently ranging based on above Ichimoku confirmations, however, since Chiko Span is above the candles, market is still shows bullish momentum.

- Daily chart scenario:
Better wait for Kumo breakout (Sanyaku Kouten) for continuous uptrend confirmation

- H4 chart scenario
Since H4 shows bullish momentum, we can still follow H4 uptrend as long as market is above Kijun sen