Using only the 15minute timeframe to analyse the structural bias, i can give confidence that XAUUSD is now Bullish until otherwise.
After a prolonged period of Sellers in this market, price had faced a reversal after breaking a 'major' high (1891) at the time of 4:00am Monday 21st August.
I have now marked out my three key support zones in which i anticipate gold to react bullish to, IF, a long enough pullback is made before created further structure or if it doesn't create another reversal.
In terms of targets, it depends at which price the pullback occurs from. That will be my target level 1. Target Level 2 will be the next 15minute high liquidity.
Let's see what happens
After a prolonged period of Sellers in this market, price had faced a reversal after breaking a 'major' high (1891) at the time of 4:00am Monday 21st August.
I have now marked out my three key support zones in which i anticipate gold to react bullish to, IF, a long enough pullback is made before created further structure or if it doesn't create another reversal.
In terms of targets, it depends at which price the pullback occurs from. That will be my target level 1. Target Level 2 will be the next 15minute high liquidity.
Let's see what happens