XAU/USD - GOLD ANALYSIS & TRADE IDEA - SELL TO BUY
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Monthly is bullish we've also created a double bottom (W Pattern) where we can expect the market to retrace back to the neckline which is lining up with the Daily POI and structure also checked with the LTFs (Lower Time-Frames) for confirmation.
On Weekly EMAs has just cut for long, MACD has just passed above 0 (zero), same as Monthly still bullish price action, It has also tested strong structure level on the start of November where on the second week it has just created a higher high which signifies a change in momentum from bearish to bullish.
Now we can expect the market to retest the brokern structure which is also lining up with the Daily POI and the 0.382 of the fibonacci retracement around the 1811.732-1835.135 area before reaching our projected take profit of 1898.645.
**Also looking at price action within this week for a possible return to 1745.405-1763.010 for stop hunting and liquidity grab before continuing the uptrend.
Dropping down on the daily what we can expect is a retest of the level 1811.732-1835.135 that is also lining up with the 0.382 of the fibonacci of the weekly retracement.
Our entry at the 4H time frame where we have identified a structure level where in the down move created a candle of a different color where we have structure. So we might have a short term bearish movement where we are looking for a SELL entry after the break and retest of the 4H POI 1854.916-1859.931, we set our take profit at the entry of the Daily POI & Fibo retracement of 0.382 of the weekly.
~TRADE SIGNAL~
SELL (4H POI)
Entry: 0.92019
Take Profit: 0.90921
Stop Loss: 0.92382
**NOTE: wait for the break and retest of the level before entering
================
BUY (DAILY POI)
Entry: 0.92019
Take Profit: 0.90921
Stop Loss: 0.92382
================
BUY (WEEKLY POI)
Entry: 0.92019
Take Profit: 0.90921
Stop Loss: 0.92382
Good luck!
You have plenty of time to achieve your target. Take it slow, observe good risk management techniques.
~FX_SHIFTER
Monthly is bullish we've also created a double bottom (W Pattern) where we can expect the market to retrace back to the neckline which is lining up with the Daily POI and structure also checked with the LTFs (Lower Time-Frames) for confirmation.
On Weekly EMAs has just cut for long, MACD has just passed above 0 (zero), same as Monthly still bullish price action, It has also tested strong structure level on the start of November where on the second week it has just created a higher high which signifies a change in momentum from bearish to bullish.
Now we can expect the market to retest the brokern structure which is also lining up with the Daily POI and the 0.382 of the fibonacci retracement around the 1811.732-1835.135 area before reaching our projected take profit of 1898.645.
**Also looking at price action within this week for a possible return to 1745.405-1763.010 for stop hunting and liquidity grab before continuing the uptrend.
Dropping down on the daily what we can expect is a retest of the level 1811.732-1835.135 that is also lining up with the 0.382 of the fibonacci of the weekly retracement.
Our entry at the 4H time frame where we have identified a structure level where in the down move created a candle of a different color where we have structure. So we might have a short term bearish movement where we are looking for a SELL entry after the break and retest of the 4H POI 1854.916-1859.931, we set our take profit at the entry of the Daily POI & Fibo retracement of 0.382 of the weekly.
~TRADE SIGNAL~
SELL (4H POI)
Entry: 0.92019
Take Profit: 0.90921
Stop Loss: 0.92382
**NOTE: wait for the break and retest of the level before entering
================
BUY (DAILY POI)
Entry: 0.92019
Take Profit: 0.90921
Stop Loss: 0.92382
================
BUY (WEEKLY POI)
Entry: 0.92019
Take Profit: 0.90921
Stop Loss: 0.92382
Good luck!
You have plenty of time to achieve your target. Take it slow, observe good risk management techniques.
~FX_SHIFTER
Comment:
I have uploaded a new chart with the trade signal updated. My bad, I quickly published this one with the wrong trade signal.
