XAUUSD Price Action Analysis

1 thg 3, 2022

The monthly candle for Gold closed bullish but it also closed back within a range. As you can see on the 1H TF price is currently ranging and can break either way. I will not look for a trade until price breaks and closes either above 1920 for buys or a break and close below 1882 for a sell opportunity. I know that price broke out and created a high. Price is also currently finding support from the 200 EMA, so a confirmation of direction will not be established until we see how price interacts with the EMA as we enter the Asian/London Session.