The next trend of Gold
H1 time frame.
Structure: Sideway.
After the price surged and broke the sideway structure at 1804, there was no confirmation of the uptrend but the price retraced deeply to the 61.8 zone of the up move.
Back to the Sideway zone and there is no clear confirmation of the current trend.
Need to wait for another break out of the sideway and retest to confirm the trend to be able to trade with XAUUSD.
Two resistance levels to watch out for when price breaks are resistance 1809 and support 1780.
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Wish you all have a good trading day!
Structure: Sideway.
After the price surged and broke the sideway structure at 1804, there was no confirmation of the uptrend but the price retraced deeply to the 61.8 zone of the up move.
Back to the Sideway zone and there is no clear confirmation of the current trend.
Need to wait for another break out of the sideway and retest to confirm the trend to be able to trade with XAUUSD.
Two resistance levels to watch out for when price breaks are resistance 1809 and support 1780.
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Wish you all have a good trading day!
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