Gold (XAUUSD): Multiple Time Frame Technical Outlook 🟡

25 Jan 2023

Gold has recently violated a key daily structure resistance.
The price has nicely respected that after a retest and the market keeps growing now.

The momentum definitely started to slow down.
I spotted a rising wedge pattern on 4H and a contraction of a price action.
If you want to buy gold, the best strategy will be to buy after a pullback

I would suggest looking for a bearish breakout of the wedge.
Its violation will most likely initiate a correctional movement.

There are 2 safe points to look for buying opportunities:
1871 - 1879 support and a major rising trend line.

I will post an update once I spot a decent trading setup.


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