XAUUSD Daily Analysis March 13th, 2021
Gold Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are looking super bullish on GOLD! Currently we are consolidating near our 2000 resistance zone but we are seeing what could look like a head & shoulders pattern.
Ideally, we continue with the bullish trend and spot the next higher low above our 2000 zone. This would give us confidence to continue entering long.
Trade scenario 2: If price action fails to push higher we need to see the head & shoulders pattern play out, look for a lower high below 1975.00 to enter short on.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are looking super bullish on GOLD! Currently we are consolidating near our 2000 resistance zone but we are seeing what could look like a head & shoulders pattern.
Ideally, we continue with the bullish trend and spot the next higher low above our 2000 zone. This would give us confidence to continue entering long.
Trade scenario 2: If price action fails to push higher we need to see the head & shoulders pattern play out, look for a lower high below 1975.00 to enter short on.