⚠️ This is not investment advice. Always ensure you have prior knowledge before engaging in the financial markets.
Currently, XAU is entering a ranging phase on lower timeframes (30M). On the 1H chart, we are on track for the next cycle, and as we saw yesterday, the projections on the lower timeframes played out very accurately.
On the macro timeframes, the daily chart remains bullish, but is seeking a deeper retracement to capture the pending liquidity from the lower imbalance. On the 4H chart, we are still in a bullish trend, though there is some concern that sellers (bears) could come in strongly to sweep buyers’ liquidity in the medium to long term. Still, the 4H direction remains bullish until we see a decisive break below the most recent swing low of the consolidation.
At the moment, my outlook is bearish in the short to medium term, as the market needs to clear and liquidate previous buy positions before resuming strength and attempting to reach at least the historical high. However, with very limited prospects of rate cuts this year, and with no expectations for cuts in either November or December, the market signals that easing is unlikely in the near term.
This suggests we may be approaching the end of the current bullish rally in XAU, with a deep retracement on the daily chart likely to follow as the market recovers liquidity.
Currently, XAU is entering a ranging phase on lower timeframes (30M). On the 1H chart, we are on track for the next cycle, and as we saw yesterday, the projections on the lower timeframes played out very accurately.
On the macro timeframes, the daily chart remains bullish, but is seeking a deeper retracement to capture the pending liquidity from the lower imbalance. On the 4H chart, we are still in a bullish trend, though there is some concern that sellers (bears) could come in strongly to sweep buyers’ liquidity in the medium to long term. Still, the 4H direction remains bullish until we see a decisive break below the most recent swing low of the consolidation.
At the moment, my outlook is bearish in the short to medium term, as the market needs to clear and liquidate previous buy positions before resuming strength and attempting to reach at least the historical high. However, with very limited prospects of rate cuts this year, and with no expectations for cuts in either November or December, the market signals that easing is unlikely in the near term.
This suggests we may be approaching the end of the current bullish rally in XAU, with a deep retracement on the daily chart likely to follow as the market recovers liquidity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.