Browse By

XAUUSD: H1 offers first signs of a fall

On the higher time frame of D1, we can see that price has been resisted by previous D1 boxes lows.

XAUUSD is at resistance on D1 charts

XAUUSD is at resistance on D1 charts

  • Price is current resisted by previous D1 boxes highs and lows and at the high of an equidistant channel.
  • Pending a close below the high of Dec 2013 would firmly place price below immediate supports.

On the H4 charts, we see that price has retraced to a series of previous H4 boxes lows.

Price shows a retracement to previous H4 boxes low

Price shows a retracement to previous H4 boxes low

  • Price previous expanded below 6 weeks lows meeting a big move criteria.
  • Currently price has retraced to these H4 boxes low as a form of resistance.

On the H1 time frame, we can see the signs of a bearish move.

XAUUSD H1 shows Bearish expansion pending day close.

XAUUSD H1 shows Bearish expansion pending day close.

  • Any retracement in the form of a 1234 would provide opportunity following the completion of the bearish expansion.

A tweet was also issued earlier on the move of XAUUSD.

 

  • Immediate support would be around the month low of May 2014
  • Immediate resistance around 1270-75. Will update again when we see any 1234 around this zone

 

0Shares

Last time, many things that I wanted were just dreams, now I see them as possibilities. I’m looking forward to own pent-house suite in Manhattan overlooking Central Park because forex trading with Tflow® makes it possible. Find me on Google+

Loading Facebook Comments ...

One thought on “XAUUSD: H1 offers first signs of a fall”

  1. Shao Guoyong says:

    Hi Jerome,

    it was not a bearish day close.
    However a small 1234 might be forming soon.
    Will this downside bias still be on for u guys?

    yong

Leave a Reply