XAUUSD Weekly Outlook
Two possible scenarios;
On the 1 hour Timeframe, price action has respected the bearish orderflow, creating lower highs and lower lows. currently price is still sitting on the bearish OB. There are 2 scenarios i am looking at.
1) Price rejects off the 1 hour OB, and creates an bearish push to the downside. Ideally, i want to see price on gold break below 2285.56 with a body candle close before looking for sells.
2) If price break past the 1 hour bearish OB, i will be looking for price to take out the liquidity with a body candle close. Once that happens, I will be looking for a break and retest to take out the daily OB to continue the swing on the higher timeframe.
Two possible scenarios;
On the 1 hour Timeframe, price action has respected the bearish orderflow, creating lower highs and lower lows. currently price is still sitting on the bearish OB. There are 2 scenarios i am looking at.
1) Price rejects off the 1 hour OB, and creates an bearish push to the downside. Ideally, i want to see price on gold break below 2285.56 with a body candle close before looking for sells.
2) If price break past the 1 hour bearish OB, i will be looking for price to take out the liquidity with a body candle close. Once that happens, I will be looking for a break and retest to take out the daily OB to continue the swing on the higher timeframe.