FX.co ★ XAU/USD, GOLD

GOLD H4 MARKET ANALYSIS . To complete today's technical data, from the H4 timeframe chart, it can be seen that since beginning this week, bullish candles have dominated the price movement in trading or moving upwards. If at the end of last week the candlestick was still below the yellow simple moving average 60 indicator, then this month it rose above it. Because of this condition, the price position closes at a higher level every day, meaning that the market conditions are moving towards bullishness. From Monday to Thursday, there is a buyer's power that can push prices higher.n addition to this technical analysis, I am looking at the instructions given by the lime line of the Relative Strength Index indicator (14) which is at the level of 70, which shows that the market is in a strong bullish state. The broken yellow line on the MACD indicator (12,26,29) is still falling while the histogram bar has moved above the zero level, which is an sign that buyers still dominate the market. Meanwhile, it can be seen that the candlestick is still moving above the simple moving averages of 60 and 150 indicators, which suggests that the market is moving in a bullish direction. Conclusion: The results of reading the market conditions that can be taken from several indicators all show the market trend on the daily and H4 timeframes that is still moving and are expected to continue to move upwards. Opening a BUY trading position provides ample opportunities that can generate profits. However, it should also be remembered that the ideal candlestick position for a transaction is to wait until the price reaches the level of 2673.00. If for the next bullish target, it can be placed at the level of 2685.00, and the price level of 2665.00 can be placed as the stop loss level.Thus, the results of the trading journal were updated on Friday. Hopefully, what I have conveyed is useful to them loyal friends of the Invest social forum. Greetings of success and hope for more profits today.