GOLD: Price breaking the MAIN STRUCTURE!!!
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the XAUUSD, 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.
Top Down Technical Analysis:
In our previous forecast, we were expecting a bullish movement considering the overall bullish momentum in high timeframe (see previous posts for a better understanding).
With this method, we couldn’t take advantage of this move because the structure was too big and the RR not enough accordingly with our strategy conditions.
The market currently is back on the top of the structure, and further bullish price action could lead to a potential next market movement outside the falling wedge pattern.
When, where and why would we step into the market?
Before entering a long position, would be better for the price to leave the structure, correcting, giving us enough room for a trade position until the next swing high.
However, a pullback inside the wedge, would invalidate the trade setup and no action will be taken on this market.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Top Down Technical Analysis:
In our previous forecast, we were expecting a bullish movement considering the overall bullish momentum in high timeframe (see previous posts for a better understanding).
With this method, we couldn’t take advantage of this move because the structure was too big and the RR not enough accordingly with our strategy conditions.
The market currently is back on the top of the structure, and further bullish price action could lead to a potential next market movement outside the falling wedge pattern.
When, where and why would we step into the market?
Before entering a long position, would be better for the price to leave the structure, correcting, giving us enough room for a trade position until the next swing high.
However, a pullback inside the wedge, would invalidate the trade setup and no action will be taken on this market.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Trade closed: target reached:
For everybody that was following our Gold forecast, the target forecasted has been reached! We don't suggest to hold gold for more, considering the potential market reversal for the new corrective phase!
Sincerely,
Cybernetics Trading Lab
For everybody that was following our Gold forecast, the target forecasted has been reached! We don't suggest to hold gold for more, considering the potential market reversal for the new corrective phase!
Sincerely,
Cybernetics Trading Lab
