GOLD 4H TIMEFRAME
Currently on a major support level, if it breaks down at 3284, we can target these previous support levels at 3264 and 3250. Always wait for a retest before entering to confirm that it is not a fake out.
On the other hand, if this bounce and consolidate above 3350 levels, then we have a probability of a continued growth to 3400 and 3440. If the ceasefire got violated and FED hints of a rate cut, 3500 is not just a possibility, it can go higher and make new highs.
When entering trades look for opportunity on lower timeframes like M1, M5 and M15. When analyzing the general direction and bias, it's best to check high timeframes H1, H4 and D1.
Currently on a major support level, if it breaks down at 3284, we can target these previous support levels at 3264 and 3250. Always wait for a retest before entering to confirm that it is not a fake out.
On the other hand, if this bounce and consolidate above 3350 levels, then we have a probability of a continued growth to 3400 and 3440. If the ceasefire got violated and FED hints of a rate cut, 3500 is not just a possibility, it can go higher and make new highs.
When entering trades look for opportunity on lower timeframes like M1, M5 and M15. When analyzing the general direction and bias, it's best to check high timeframes H1, H4 and D1.
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