GOLD: Is the market getting ready for the REVERSE?
Updated
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the XAUUSD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.[/I]
Higher timeframe:
Lower timeframe:
Since the end of the 2020 and the beginning of the 2021, the market started creating a big and an interesting corrective structure, and currently it’s retesting the bottom area.
The double bottom and the way it’s approaching on this level, may be a fist clue of an upcoming reverse!
When, where and why would we step into the market?
In the lower timeframe, is clear the bearish movement inside the falling wedge, overall, although the long term perspective in higher timeframe is bullish, in lower timeframe the confluences are not enough to think about entering and holding a buy position.
Definitely, if in lower time frame the double top is confirmed and the market starts clearly reverse impulsively, the chances to get a good opportunity are really high!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.[/I]
Higher timeframe:
Lower timeframe:
Since the end of the 2020 and the beginning of the 2021, the market started creating a big and an interesting corrective structure, and currently it’s retesting the bottom area.
The double bottom and the way it’s approaching on this level, may be a fist clue of an upcoming reverse!
When, where and why would we step into the market?
In the lower timeframe, is clear the bearish movement inside the falling wedge, overall, although the long term perspective in higher timeframe is bullish, in lower timeframe the confluences are not enough to think about entering and holding a buy position.
Definitely, if in lower time frame the double top is confirmed and the market starts clearly reverse impulsively, the chances to get a good opportunity are really high!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.[/I]
Note
As previously forecasted, we were expecting a bullish reversal price action.
The market proceed performing it and would be interesting to see the upcoming week for updates!
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