XAUUSD. Where to wait for the buyer's resumption?
Hello traders and investors!
The price of gold is correcting. Let's take a look at where a reversal of the correction might occur for potential buy opportunities.
On the weekly chart, the last impulse started from the level of 2604.39. The key bar of the impulse (the one with the highest volume) is at its base. Currently, the price is within the range of this bar, but I don't see increased volumes on the daily timeframe. On the contrary, the volumes of the last three days are decreasing. Is there no buyer? We are waiting for the price to interact with the 2604.39 level, where a buyer might appear.
The next interesting range for a potential buyer resurgence is 50% of the last buyer's impulse on the monthly timeframe, which is at 2538.5.
Good luck with your trading and investments!
The price of gold is correcting. Let's take a look at where a reversal of the correction might occur for potential buy opportunities.
On the weekly chart, the last impulse started from the level of 2604.39. The key bar of the impulse (the one with the highest volume) is at its base. Currently, the price is within the range of this bar, but I don't see increased volumes on the daily timeframe. On the contrary, the volumes of the last three days are decreasing. Is there no buyer? We are waiting for the price to interact with the 2604.39 level, where a buyer might appear.
The next interesting range for a potential buyer resurgence is 50% of the last buyer's impulse on the monthly timeframe, which is at 2538.5.
Good luck with your trading and investments!
Good luck with your trading!
t.me/user_friendly_trading
t.me/user_friendly_trading
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