XAUUSD Gold Chart Analysis 21/3/2025

in voilk •  11 days ago

    As we've check the daily candle that after ascending to create a wick, it has dropped significantly, crossing support to creating a low wick before pulling back. Now it all depends on whether or not the daily candle today can successfully break support(close below support). And as today is the day before the week candle closes, which means the price in the daily candle may descend further as the week candle does a continuous pullback from weekly close positions.

    The 4 Hour timeframe consisted of a successful break of support and 2 support broken with the same candle which is the bullish reversal support and the previous consolidation zone's support which means the market has attract and accumulate buy volumes at both points and it also means the price must descend further to clear those buy volumes before being able to ascend back up. The best thing to do for today is not to enter a trade and to wait for the most optimized trading, either from the price breaking below or breaking above before we can find a spot for entering a trade. If it wants to break below due to more weekly candle pullback, just let it flow first and wait until it has stopped breaking before wait for the price to create a reversal and then enter a trade.

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