XAU/USD: Will buyers keep the control of the market?
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the XAU/USD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Daily timeframe:
4 hours timeframe:
1 hour timeframe:
The Market’s consolidated since a while and reached a strong key level that rejected the price many times during the last weeks.
Looking at the intraday perspective, the price is still moving inside an ascending channel and the buyers are slightly keeping the control of the market.
As you can see on the chart, the price broke the channel to the upside with interesting volumes and the next step would be to understand if sellers are ready to step into the market at that level.
When, where and why would I step into the market?
Since the beginning of this channel, the buyers had the control and kept the price to the higher part of the channel, typical during uptrends.
For this reason I wouldn’t entry short right now but I expect a possibility of a retracement back inside the channel.
The price control is the level where the price gravitated most of the time and a rejection on that level would be a sing that buyers are still interested in pushing the price up.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Daily timeframe:
4 hours timeframe:
1 hour timeframe:
The Market’s consolidated since a while and reached a strong key level that rejected the price many times during the last weeks.
Looking at the intraday perspective, the price is still moving inside an ascending channel and the buyers are slightly keeping the control of the market.
As you can see on the chart, the price broke the channel to the upside with interesting volumes and the next step would be to understand if sellers are ready to step into the market at that level.
When, where and why would I step into the market?
Since the beginning of this channel, the buyers had the control and kept the price to the higher part of the channel, typical during uptrends.
For this reason I wouldn’t entry short right now but I expect a possibility of a retracement back inside the channel.
The price control is the level where the price gravitated most of the time and a rejection on that level would be a sing that buyers are still interested in pushing the price up.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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