Gold/XAUUSD SHORT/ SELL
🔰 Pair Name : XAU/USD
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SELL
In our last analysis, we observed large market imbalance. Although the hourly 4 chart remained oversold, the current imbalance still unfilled fully. The short-term trend remained open to the downside, with buyers taking on substantial risks.
We implemented our strategy of selling at every high in gold, aiming for a target of $1,900.80. We anticipated that if the support level at $1,918.80 was breached today, more sellers would emerge, supported by increasing volume favouring selling.
The intra-day commentary highlighted a bearish reversal on the daily chart, confirmed by the first bearish candle with a decline of 0.51% and low volume. Although the support at $1,918.80 was broken, a new bottom formed at $1,915.80 to $1,917.80. The weekly chart indicated lower highs, suggesting a short-term target in the range of $1,882.80 to $1,892.80.
From a technical standpoint, the weekly bearish chat indicating a fully bearish medium to long-term trend. Notably, a cycle of higher highs rejections on the weekly chart has historically led to multi-month bearish cycles in gold.
We also considered the impact of the Dollar Index (DX), which also has been on an uptrend, potentially counterbalancing the reversal possibility in gold.
🔰 Time Frame : 4H
🔰 Scale Type : MID Scale
🔰 Direction : SELL
In our last analysis, we observed large market imbalance. Although the hourly 4 chart remained oversold, the current imbalance still unfilled fully. The short-term trend remained open to the downside, with buyers taking on substantial risks.
We implemented our strategy of selling at every high in gold, aiming for a target of $1,900.80. We anticipated that if the support level at $1,918.80 was breached today, more sellers would emerge, supported by increasing volume favouring selling.
The intra-day commentary highlighted a bearish reversal on the daily chart, confirmed by the first bearish candle with a decline of 0.51% and low volume. Although the support at $1,918.80 was broken, a new bottom formed at $1,915.80 to $1,917.80. The weekly chart indicated lower highs, suggesting a short-term target in the range of $1,882.80 to $1,892.80.
From a technical standpoint, the weekly bearish chat indicating a fully bearish medium to long-term trend. Notably, a cycle of higher highs rejections on the weekly chart has historically led to multi-month bearish cycles in gold.
We also considered the impact of the Dollar Index (DX), which also has been on an uptrend, potentially counterbalancing the reversal possibility in gold.
Dagangan aktif
Nota
Nota
Price will retrace back to 1930.2-1930.4 before going down again. You can sell from thereNota
Appropriating selling areaNota
Nota
there we goDagangan ditutup: sasaran tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.