XAUUSD Long

According to the higher time frames, there is a falling channel which is a major indication of the bullish trend.

Now it has reached a major support zone, which is the previous lower low of the channel.

According to the lower time frames, there is a ranging market which might give us the go ahead of either a bullish or bearish momentum.

Let us wait for the price to move further.

Kommentar:

Let us focus on the reaction of the price on the lower trend line of the range.

It seems the current price movement was a bear trap! Only time will tell.

Kommentar:

Entry @1650