XAUUSD Daily Analysis February 27th, 2021
Gold Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are very bullish on gold and in my opinion we’re a bit too bullish which is why I'm waiting for specific scenarios before making any trade decisions.
Based on where price action currently is i think the most likely scenario is for us to see further rejection of 1930.00.
Trade scenario 2: If we see a full blown break of support near 1870.00 we need to spot a lower high below to confirm gold newly bearish on this timeframe.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are very bullish on gold and in my opinion we’re a bit too bullish which is why I'm waiting for specific scenarios before making any trade decisions.
Based on where price action currently is i think the most likely scenario is for us to see further rejection of 1930.00.
Trade scenario 2: If we see a full blown break of support near 1870.00 we need to spot a lower high below to confirm gold newly bearish on this timeframe.