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#CATCH XAUUSD Buying idea due to expected pullback and buying pressure
Starting from the 4h perspective, we can see that we are still in the trend and momentum, so it would be correct to look for main sales, but before doing so, we need to allow the market to pull back.
So we might be looking for a potential buy (30-minute chart) because the market got a bit tired on Friday and is currently showing us some buying pressure, which we can also see at the 4-hour candle close. Not a huge thing but still possible to make big profits up to 2.420-25 if managed correctly. After this, it's best to wait and gather more information for the next steps, whether we have broken that level or already turned back.
Now, if we see that the price is struggling to surpass 2,408, we will likely continue at levels lower than 2,390.
12 hours ago
Comment:
If we don't see an increase in volume or upward momentum, we will close the trade at the current price or at least at 2,405, and wait until one side of the current range clears.
11 hours ago
Comment:
I have completely closed my trade.
11 hours ago
The transaction was closed manually
(Source: TV-Fxsnipetraders)