mql5

W1 price is on primary bullish with breakout on open weekly bar for now: price is breaking Senkou Span line (which is the virtual border between the primary ebarish and the primary bullish area of the chart) to be inside Ichimoku cloud for the secondary ranging within the primary bullish market condition. Chinkou Span line broke the price to above on close weekly bar for the breakout to be continuing, and Absolute Strength indicator is estimating the bullish trend to be started in the near future for example.



If W1 price will break 1128.05 support level on close W1 bar so we may see the bearish market condition for XAU/USD.
If W1 price will break 1205.74 resistance level to above so the price will be finally reversed to the primary bullish condition without secondary ranging.
If not so the price will be ranging within the levels.
Trend:

W1 - bullish breakout