GOLD H4
First we understood that price has been making some clear footprint since previous weeks.
Base on analysis on the image, price is performing an uptrend which is identified using a rectangle trend. The trend provide an edge to trade following the trend, the price is also making another uptrend from the previous LH towards the next HH. On the recent trend which is identify using a single trendline, price is presently making a pull back from the HH towards the LH which give a higher probability for price to trend higher. If price makes a pullback base on this forecast, then we will have an edge to trade upward.
Base on analysis on the image, price is performing an uptrend which is identified using a rectangle trend. The trend provide an edge to trade following the trend, the price is also making another uptrend from the previous LH towards the next HH. On the recent trend which is identify using a single trendline, price is presently making a pull back from the HH towards the LH which give a higher probability for price to trend higher. If price makes a pullback base on this forecast, then we will have an edge to trade upward.
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