Bullish on Gold (XAUUSD).
Target: 1364 (based on RSI Reversal on Weekly Chart) and after that 1441 (based on Monthly chart)
Invalidation Point: 1280 (thick black Moving Average Composite line on Weekly)
Below an overview of the multitimeframe analysis
M) Up - sideways: Positive Reversal Target (PR TA): 1441, but Range Rules on RSI(14) show sideways
W) Up: PR TA: 1364. Bull range on RSI(14)
D) Up: RSI stays above 40, C > Moving Averages (MA's). Confirmed when RSI > 60
4H) Up: RSI > 60 and MA's. PR TA hit. Support on 1296
All timeframes aligned. Uptrend expected, search for right entry point. Important point would be the RSI of the Daily timeframe to move through 60
Target: 1364 (based on RSI Reversal on Weekly Chart) and after that 1441 (based on Monthly chart)
Invalidation Point: 1280 (thick black Moving Average Composite line on Weekly)
Below an overview of the multitimeframe analysis
M) Up - sideways: Positive Reversal Target (PR TA): 1441, but Range Rules on RSI(14) show sideways
W) Up: PR TA: 1364. Bull range on RSI(14)
D) Up: RSI stays above 40, C > Moving Averages (MA's). Confirmed when RSI > 60
4H) Up: RSI > 60 and MA's. PR TA hit. Support on 1296
All timeframes aligned. Uptrend expected, search for right entry point. Important point would be the RSI of the Daily timeframe to move through 60