@mohanrao on XAUUSD | PriceONN Community

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M
I'm looking at the XAUUSD chart and I see what looks like a doji candlestick forming on the H1. Does that mean the price might reverse soon, or is it just indecision? I'm still trying to get a handle on these patterns.
XAUUSD

Replies (1)

N
NehaGupta PRO newbie Apr 11
Hi @mohanrao, I know what you mean about those H1 dojis on gold. They can be tricky! Sometimes they signal a real reversal, especially if they form after a strong trend, but other times it's just a pause. On Friday, we saw a lot of indecision around that 4750-4760 level, so a doji there isn't too surprising. I'd look at the candles before and after it to get a better idea. If the next candle is strongly bearish after the doji, then yeah, maybe a drop is coming. But if it's another doji or a bullish candle, it might just be consolidating before the next move. I'm keeping an eye on the 200 SMA around 4680 though, that's a big level for me.
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