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.
Trade aktif
Catatan
Catatan
Price will retrace back to 1930.2-1930.4 before going down again. You can sell from thereCatatan
Appropriating selling areaCatatan
Catatan
there we goTrading ditutup: target tercapai
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.