Gold $XAUUSD H1 Breakdown
Gold gave a strong bullish move from the lows and created a CHOCH, showing that buyers stepped into the market after the downtrend.
Since then, price has been making higher lows and recently broke out of the small bearish trend line, that tells us buyers are still in control for now.
The main level I’m watching is the recent high around 4243.
If price breaks above that high and holds, the next objective is the supply zone around 4320, that’s where I expect price to be attracted to next.
If price rejects from this area, don’t panic. A pullback would be normal. Markets don’t move in straight lines.
The important thing is whether buyers can continue defending higher lows.
What to watch next:
Break above 4243= More bullish continuation
Rejection from 4243 =Possible pullback before the next move
The CHOCH already happened yes but now what we’re waiting for now is confirmation that buyers are strong enough to keep pushing price higher.
Trading gets easier when you stop trying to prove you’re right.
Take the setup.
Manage the risk.
Accept the outcome.
The money is just a result of repeating the right actions.
SLK x NZDUSD 🥂
A very slow day at the office 📍
Regardless, it's still a W. ❤️
This storyline remains valid heading into next week until that ERL gets taken.
Thread dropping soon 🔜
happy tuesday guys
it feels so good to be back on here… last week was extremely busy and eventful irl
but for this week i would spend most of my time here, supporting my mutuals
plus posting contents about @Anomaly_HQ’s prediction market platform
good morning :) 🤍
It’s crazy how long I’ve been sleeping on @Maventrading, y’all swore they have the worst spreads. Silver is literally one of the ‘untradeable’ assets on propfirms due to insane spread.
Look at Maven on the left, you’ll never guess the propfirm on the right.🤣🤣
PS - screenshot was taken at the same time
@AU79executioner , Thank you for putting me on ski🙂↔️🙂↔️