After strong sold off from November 18, 2021,
XAUUSD moved in trading range phase.
The possible movement after analyzing H4 timeframe,
is that we are in broad bear channel.
Bear breakout of a symmetrical triangle within this broad channel is sign of bears selling.
1765 is where you have to watch and see the price reactions.
Daily timeframe with 2 scenarios:
1) Drop-Base-Drop = Second leg of bear impulsive leg.
2) Drop-Base-Rally = Second leg of bull impulsive leg.
XAUUSD moved in trading range phase.
The possible movement after analyzing H4 timeframe,
is that we are in broad bear channel.
Bear breakout of a symmetrical triangle within this broad channel is sign of bears selling.
1765 is where you have to watch and see the price reactions.
1) Drop-Base-Drop = Second leg of bear impulsive leg.
2) Drop-Base-Rally = Second leg of bull impulsive leg.