FX.co ★ king.zelda | XAU/USD, GOLD

XAUUSDHello traders! On the M15 chart, the linear regression channel has turned upwards, indicating the efforts of buyers who are aiming to rise to the level of 4496.92. There is an opportunity to buy. Of course, it would be better to wait until the H1 linear regression channel also starts pointing north. Therefore, I will be cautious with my purchases. I am buying from the lower channel boundary at 4437.59. I am monitoring the sales, which may go below 4437.59, and if this happens, I will stop buying. There is a high probability of continuing sales according to the H1 trend. The buyer will not only try to work out the level of 4496.92 but will also try to consolidate above it to shift the trend in their favor. If they succeed, buying can continue.

Looking at the hourly chart, I see that the linear regression channel is pointing downwards, which is more important to me than the M15. This means that the bears are strong, and the fact that the signal on the M15 chart indicates buying shows the presence of a strong buyer in the market. I need to wait for the price to reach the right place and look for a sell from there. The place where I will look for sales is the upper channel boundary at 4496.92, from where I need to sell to the lower channel boundary at 4408.59. Upon breaking the target level, further decline can be expected, but most likely after a pullback upwards, as a bearish move will be developed, and the bulls will try to regain their momentum. If the level of 4496.92 is passed by the bulls, it is a sign of bullish interest, where sales become unprofitable, so they are canceled with a reassessment of the market situation.