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:
Market currently in a correction wave after a strong bullish impulse. In lower timeframe the market is clearly following an interesting ascending channel and it’s just got a strong responsive movement once the price reached an area with a solid demand. Considering a good trading activity mostly on the higher value of the channel, the intraday uptrend seems to be still healthy and I would be confident to see more continuation until a clear sign of trend reverse.
When, where and why would I step into the market? The price quickly retraced back inside the channel and almost reached the middle line. Before planning my long position I will be waiting for a new retest on the lower value of the channel (better with another strong responsive movement from the demand zone) and a good entry point with a RRR of 1:2 or greater on the lower value area. My SL would be just below the lower value area and the first TP on the middle line of the channel. A breakout to the downside of the demand zone will invalidate this trade and no action will be taken on this market.
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Trade safe and responsibly, Gianni
DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose
in time frame h4 gold already in zone sell btw i like the way u explain on each time frame
UnknownUnicorn18552923
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@qaiyum1010 Hi and thanks for your comment , appreciate it! About the “zone sell in 4 hours time frame”, until the price will move inside the channel making new HHs and HLs I would see a bullish perspective ☺️ share a picture with your point of view! I’ll be glad to see a different view ! 😊
qaiyum1010
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@Digital-InveSpec, OMG lol why i cannot remember that, what u mention is correct from pattern that happen in time farme h4 ( L H HL HH HL HH ) that mean from HL will make new HH Please tell me if im wrong :)