Gold (XAUUSD) Analysis
17 Sept 23 - Analysis:
XAUUSD
DXY
a) 4H TF: Fib retracement perfectly aligned and respected previous levels. We can expect pullback to 1930 (0.786 Feb levels)
b) 4H TF: Trendline resistance at 1938 levels.
c) 4H TF: If it goes beyond 1952 to 1959 levels then its a GIANT bullish move because its a new HH and this might also create new HL.
D) 4H TF: If it creates HH by going past 1953 levels then the downward trend would be reversed.
F) 1H TF: If 1H candle closes below 50EMA level (1918) then its a bearish move. If 1H candle closes below 200EMA level (1924) then its a bullish move.
BEYOND TECH ANALYSIS:
1) Next couple of days maybe market makers will push price to 1940 levels and it would be a buyers trap before they dump.
2) If interest rates are maintained or hiked then we could see a 20 to 30 USD price dump.
XAUUSD
DXY
a) 4H TF: Fib retracement perfectly aligned and respected previous levels. We can expect pullback to 1930 (0.786 Feb levels)
b) 4H TF: Trendline resistance at 1938 levels.
c) 4H TF: If it goes beyond 1952 to 1959 levels then its a GIANT bullish move because its a new HH and this might also create new HL.
D) 4H TF: If it creates HH by going past 1953 levels then the downward trend would be reversed.
F) 1H TF: If 1H candle closes below 50EMA level (1918) then its a bearish move. If 1H candle closes below 200EMA level (1924) then its a bullish move.
BEYOND TECH ANALYSIS:
1) Next couple of days maybe market makers will push price to 1940 levels and it would be a buyers trap before they dump.
2) If interest rates are maintained or hiked then we could see a 20 to 30 USD price dump.
Trade active:
Understanding psyche of market makers before FOMC news. *Guys, correct me if I am wrong.
a) This is in relation to looking at daily candles of 14 June and 26 July which are FOMC news dates. Also observe the next day after these days to understand its impact.
b) On both days the news has been positive for DXY and there is a dump. Of course the daily trend channel is bearish. It might have facilitated the move.
c) But in this case Gold created HLs but still Gold did not break daily HHs. So, we have to be cautious.
d) The market feels the interest rates would be maintained 5.5%. If its maintained then there would be dump but if interest rates are increased then there would be WILD DUMP.
e) We all know how shrewd market makers are with being bullish before the news i think they would dump the price from 1940 to 1945 level. We will see 1910 levels before the end of the week.
f) So, open early buys to take advantage of market makers manipulation at 1930 (FIB-100%) or 1924 (FIB-78.6%) levels after 1Hr retest candle close above 1930/1924 levels and hold it till 1938 levels to 1945 levels based on your trading style. Do not open buys at 1945 and 1950 levels.
I hope you all make money. Remember we all are one family.
a) This is in relation to looking at daily candles of 14 June and 26 July which are FOMC news dates. Also observe the next day after these days to understand its impact.
b) On both days the news has been positive for DXY and there is a dump. Of course the daily trend channel is bearish. It might have facilitated the move.
c) But in this case Gold created HLs but still Gold did not break daily HHs. So, we have to be cautious.
d) The market feels the interest rates would be maintained 5.5%. If its maintained then there would be dump but if interest rates are increased then there would be WILD DUMP.
e) We all know how shrewd market makers are with being bullish before the news i think they would dump the price from 1940 to 1945 level. We will see 1910 levels before the end of the week.
f) So, open early buys to take advantage of market makers manipulation at 1930 (FIB-100%) or 1924 (FIB-78.6%) levels after 1Hr retest candle close above 1930/1924 levels and hold it till 1938 levels to 1945 levels based on your trading style. Do not open buys at 1945 and 1950 levels.
I hope you all make money. Remember we all are one family.
Look for candles close above or below 1930.475 levels. If above 1930.4 then buy to 1938.4 and if below 1930.4 then sell to 1924.2.
Important keyword is 1hr CANDLE CLOSE.
Need to wait but its worth it..Good Luck Guys.