XAU/USD Bullish SHS Aiming for W H3/Wizz 3 Confluence
The Gold is showing a moderate uptrend. We can see a bullish SHS rejecting the price from M H3 camarilla support.
If the price proceeds with a bullish momentum, we might see a good continuation pattern. 1498-1500 is the POC zone and bounce is expected. The first target is 1520 – W H3 camarilla/ Wizz 3 confluence. A 4h close above and 1537 is next. In addition to bullish SHS we can also see a cup with the handle bullish pattern. For this scenario to remain valid, the price must stay above 1487 – weekly L3 camarilla.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX