XAUUSD My bias is primarily bearish on
XAUUSD. Although it formed an accumulation spike and an engulfing candle on the 4-hour chart—and is currently in a very good position to enter long positions—my stance remains bearish because the price is below that resistance level. It has retraced nearly 100% of the uptrend, so I don’t think the expected value will be the same.The CFD session has opened and seems a bit slow. I’m not sure if it’s because it’s Friday—and this week saw good volume and significant price movement, so today might be slower—or if traders are waiting for the fundamentals. For now, this asset isn’t my main focus for trading, since the SP500 and US30 currently have higher expected value.
I see that support is forming on the 5-minute timeframe, where it’s continuously being tested; the price is below the VWAP, which is a good sign. I’d like to see a break below that support level to enter short positions.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.