Buy XAUUSD for OANDA:XAUUSD by ibbyabe

trendanalysis indicator xauusdlong xauusd xauusdbuy xauusdbuysetup firstpost firstidea firstchart

Top-down analysis from the Daily --> 4H --> 1H charts. Obvious its been on a bull run, but this is a good entry imo. Looking at the 1H chart you can notice:
1. Price Action
2. Trend Line
3. Support Zone
4. Oversold
5. EMA

My first publish :)

Comment:

UPDATE: Bulls and Bears are at point of high confluence! In the next couple hours we will see the outcome of the ascending triangle that formed on 2027 with the trendline and the 2028 major resistance zone. Lets see if price breaks the resistance in continuation or fall to the bears :(

The EMA has now hid behind the trendline now, verifying that the trendline was drawn right. They are both serving as support to break the 2028 major resistance zone.

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