XAUUSD Technical Analysis 01.07.2022 1h chart
Previous Monthly candle closed Bearish at 1807.200 filling the previous Monthly Wick, Also closing above the Monthly Support formed on Feb 2022 at 1797.
– Buys on a close above 1810.000 targeting 1h Resistance at 1814.500 leaving Runners to 4h Resistance at 1822.500.
– Sells on a close below 1802.900 targeting Monthly Support formed on FEB 2022 at 1797.100 leaving Runners to Weekly / Daily Support that was formed in Jan 2022 at 1791.600.
– As the new Monthly candle has opened it’s important not to rush into a trade, also to wait for a strong confirmation before executing on trade, and to also apply Risk Management on each trade accordingly
Previous Monthly candle closed Bearish at 1807.200 filling the previous Monthly Wick, Also closing above the Monthly Support formed on Feb 2022 at 1797.
– Buys on a close above 1810.000 targeting 1h Resistance at 1814.500 leaving Runners to 4h Resistance at 1822.500.
– Sells on a close below 1802.900 targeting Monthly Support formed on FEB 2022 at 1797.100 leaving Runners to Weekly / Daily Support that was formed in Jan 2022 at 1791.600.
– As the new Monthly candle has opened it’s important not to rush into a trade, also to wait for a strong confirmation before executing on trade, and to also apply Risk Management on each trade accordingly