XAU/USD: Buyers may still 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:
For a better understanding of this XAUUSD update, have a quick read on my previous analysis first, then come back on this update! Previous analysis 1:
Previous analysis 2:
In the intraday perspective, the market is still moving inside the ascending channel and it has reached the lower value of the pattern.
The previous responsive movement from the top to the downside was actually really strong (see the big red candle) and the price will not go back to the previous level so easily.
It is currently getting a rejection from the key level, eventually buyers are still interested in that area and they will possibly keep the price on the current level for a while.
When, where and why would I step into the market?
Considering a strong responsive movement by the sellers, before entering the market with a short term long position, I will be waiting for the price to consolidate inside the lower value of the channel (see the green arrow).
It’s important to see rejections in order to be sure that buyers are still there and then entry with the majority.
According with the conditions I listed above, I will enter the market and the SL would be below the consolidation area and the first TP on the price control, because is the point where the price gravitated almost of the time and is the level where the price could get a rejection.
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:
For a better understanding of this XAUUSD update, have a quick read on my previous analysis first, then come back on this update! Previous analysis 1:
Previous analysis 2:
In the intraday perspective, the market is still moving inside the ascending channel and it has reached the lower value of the pattern.
The previous responsive movement from the top to the downside was actually really strong (see the big red candle) and the price will not go back to the previous level so easily.
It is currently getting a rejection from the key level, eventually buyers are still interested in that area and they will possibly keep the price on the current level for a while.
When, where and why would I step into the market?
Considering a strong responsive movement by the sellers, before entering the market with a short term long position, I will be waiting for the price to consolidate inside the lower value of the channel (see the green arrow).
It’s important to see rejections in order to be sure that buyers are still there and then entry with the majority.
According with the conditions I listed above, I will enter the market and the SL would be below the consolidation area and the first TP on the price control, because is the point where the price gravitated almost of the time and is the level where the price could get a rejection.
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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