XAU/USD: The market is Shifting Direction!
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m 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.
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.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The XAUUSD market is still moving inside a triangle, almost reached the end of the pattern. A good impulse is the most likely scenario that I would see during the next weeks.
At the moment, the market left its previous fair value area, shifting from an ascending channel to a possible descending channel, although the price control is not confirmed yet.
The price is currently retesting an interesting key level and few rejections are still showing some buyers interest.
However, more consolidation on the lower value of this pattern, would definitely be a good sign of seller strength and a next bearish market movement.
When, where and why would I step into the market?
Every strategy works in a different way, lot of traders will definitely step into the market after a breakout to the downside of the current key level, a strategy that could definitely work!
According with my strategy, I would entry short once the market will eventually retest the higher value of the channel, looking for a good rejection and a profitable entry point with a RRR of 1:2 or greater.
Obviously, it’s not guaranteed that buyer will be able to push the price back to the higher resistance of the value area, so in the scenario of straight breakout to the downside, this trading idea won’t be valid anymore and no action will be taken on this market!
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.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The XAUUSD market is still moving inside a triangle, almost reached the end of the pattern. A good impulse is the most likely scenario that I would see during the next weeks.
At the moment, the market left its previous fair value area, shifting from an ascending channel to a possible descending channel, although the price control is not confirmed yet.
The price is currently retesting an interesting key level and few rejections are still showing some buyers interest.
However, more consolidation on the lower value of this pattern, would definitely be a good sign of seller strength and a next bearish market movement.
When, where and why would I step into the market?
Every strategy works in a different way, lot of traders will definitely step into the market after a breakout to the downside of the current key level, a strategy that could definitely work!
According with my strategy, I would entry short once the market will eventually retest the higher value of the channel, looking for a good rejection and a profitable entry point with a RRR of 1:2 or greater.
Obviously, it’s not guaranteed that buyer will be able to push the price back to the higher resistance of the value area, so in the scenario of straight breakout to the downside, this trading idea won’t be valid anymore and no action will be taken on this market!
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
Related Ideas
Buyers pushed the price back inside the fair value area, the market is still balanced, although the sellers are still slightly in control.
Any short position around the current level, in my opinion is highly risky!
Gianni