GOLD/XAUUSD POSSIBLE SHORT/ SELL
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🔰 Pair Name : XAU/USD
🔰 Time Frame : 4H/1H
🔰 Scale Type : MID Scale
🔰 Direction : SELL
📊 Hey there, fellow traders! Let's dive into some technical analysis for Gold:
🔍 The shiny metal has been giving us a run for our money as it struggles to breach the crucial Resistance zone at $1,945.80 - $1,948.80. This lines up with the pivot line of $1,930.80 - $1,932.80, which happens to be the Weekly Low's territory. 📉 As things stand, we're seeing what could potentially be a temporary Top formation, raising the question of whether we're entering a Higher Low's Upper zone on the Hourly 4 chart, stemming from the mid-July Low's.
🐻 The Hourly 1 chart isn't holding back either, turning Bearish. This isn't unusual after peak formations. In our book, this indicates a natural response. Considering the Weekly timeframe, we've got our sights set on a pullback toward the Daily chart’s Medium-term Support zone around the psychological benchmark of $1,900.80. Keep in mind, if this Bearish pattern continues, this level might just transform into a sturdy Resistance point in the Medium-term. 🛡️ This is where we'll be looking to rake in profits, with an eye on an extension toward $1,700.80, embracing those Lower Low's.
💼 Just so you know where we stand, we've been firmly on the Selling side. Our expectations are leaning towards a break below the $1,927.80 Support and a trial of the $1,900.80 benchmark. Our selling order is already in motion, with an entry point at $1,936.80. Ready to ride the wave towards those Lower values! 🌊
As always, remember that the DX is the key player in keeping Gold grounded, while on the other side, Bond Yields have encountered a tough Resistance and have set off a series of selling candles. 🕯️ Happy trading, and let's keep those profits rolling in! 🚀💰 #GoldAnalysis #TradingWisdom
🔰 Time Frame : 4H/1H
🔰 Scale Type : MID Scale
🔰 Direction : SELL
📊 Hey there, fellow traders! Let's dive into some technical analysis for Gold:
🔍 The shiny metal has been giving us a run for our money as it struggles to breach the crucial Resistance zone at $1,945.80 - $1,948.80. This lines up with the pivot line of $1,930.80 - $1,932.80, which happens to be the Weekly Low's territory. 📉 As things stand, we're seeing what could potentially be a temporary Top formation, raising the question of whether we're entering a Higher Low's Upper zone on the Hourly 4 chart, stemming from the mid-July Low's.
🐻 The Hourly 1 chart isn't holding back either, turning Bearish. This isn't unusual after peak formations. In our book, this indicates a natural response. Considering the Weekly timeframe, we've got our sights set on a pullback toward the Daily chart’s Medium-term Support zone around the psychological benchmark of $1,900.80. Keep in mind, if this Bearish pattern continues, this level might just transform into a sturdy Resistance point in the Medium-term. 🛡️ This is where we'll be looking to rake in profits, with an eye on an extension toward $1,700.80, embracing those Lower Low's.
💼 Just so you know where we stand, we've been firmly on the Selling side. Our expectations are leaning towards a break below the $1,927.80 Support and a trial of the $1,900.80 benchmark. Our selling order is already in motion, with an entry point at $1,936.80. Ready to ride the wave towards those Lower values! 🌊
As always, remember that the DX is the key player in keeping Gold grounded, while on the other side, Bond Yields have encountered a tough Resistance and have set off a series of selling candles. 🕯️ Happy trading, and let's keep those profits rolling in! 🚀💰 #GoldAnalysis #TradingWisdom
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Traders, watch closely! ⏰🕯️ If this hourly candle manages to close below the 1924 mark, you know exactly what that signals. 📉 Stay vigilant and keep a keen eye on this development, as it could carry significant implications.
🚨 This kind of movement might indicate a shift in the market sentiment or direction. So, buckle up and be ready to adapt your strategies accordingly. The hourly close could hold the key to potential moves ahead.
📊 Always remember, the candles hold secrets that guide our next steps. Let's see where this one takes us! 🕵️♂️ #MarketWatch #CandleClose
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Stay tuned for all the details! 🕵️♂️🔍
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4H KEY LEVEL BROKE, GOLD WILL GO DOWN FROM 1924, FOLLOW THE POST ABOVE.Anmerkung
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