XAUUSD 4H
Direction bias I derive from RSI , DMI
Levels I plotted horizontal lines by checking Swing high / Swing Low from higher time frame chart
In this chart RSI is rising with DMI+ above ADX
Momentum is not visible, but has probability to rise, in the direction given by RSI.
In 4H chart, trade is on Buy at current price OR pull back near green-dotted line [ which also is a Stop-Loss on 4H-close basis , with Target price at upper green-dot line
If chart get weaker by reducing RSI and DMI, Short trade can be attempted after price corrects below lower green-dot line, for target of pink-dotted line levels.
Direction bias I derive from RSI , DMI
Levels I plotted horizontal lines by checking Swing high / Swing Low from higher time frame chart
In this chart RSI is rising with DMI+ above ADX
Momentum is not visible, but has probability to rise, in the direction given by RSI.
In 4H chart, trade is on Buy at current price OR pull back near green-dotted line [ which also is a Stop-Loss on 4H-close basis , with Target price at upper green-dot line
If chart get weaker by reducing RSI and DMI, Short trade can be attempted after price corrects below lower green-dot line, for target of pink-dotted line levels.