Potential Swing Sell setup for XAUUSD
Previously I posted an idea but it showed H1 analysis instead. So this time i’m posting in hopes to share my H4 analysis as well.
Daily timeframe: We can see that after a huge sell down from gold that resulted in a candle closure below 2583, price managed to retrace up to our HTF OTE zone (2685-2696.4) and is currently trading around 2689.
H4 timeframe: We can also observe a ascending H4 channel as drawn in this chart. There are some SnR zones above, together with a H4 FVG / OB.
I would expect a slight push up for gold before a massive waterfall down into the bottom of the channel or potential to sweep the liquidity below.
Also, fundamentally, news already showed bullish sentiments for the US Markets, thus, we can expect a bearish move for XAUUSD in time to come. It is the time for correction!
Let me know what you guys think alright?
And do drop a follow if you’re interested in my analysis, I do market analysis every Sundays!
Daily timeframe: We can see that after a huge sell down from gold that resulted in a candle closure below 2583, price managed to retrace up to our HTF OTE zone (2685-2696.4) and is currently trading around 2689.
H4 timeframe: We can also observe a ascending H4 channel as drawn in this chart. There are some SnR zones above, together with a H4 FVG / OB.
I would expect a slight push up for gold before a massive waterfall down into the bottom of the channel or potential to sweep the liquidity below.
Also, fundamentally, news already showed bullish sentiments for the US Markets, thus, we can expect a bearish move for XAUUSD in time to come. It is the time for correction!
Let me know what you guys think alright?
And do drop a follow if you’re interested in my analysis, I do market analysis every Sundays!
Trade active
As per expected, price dips into our discounted buy areas (50-61.8% fib) which ranges from 2680-2676 and pumps up 80pips. I would expect price to have a slight further push towards the 2700-2704 regions before a massive waterfall coming. Stay tuned as we observe the price action together. For now, look for buy positions targeted towards 2700. Trade closed: target reached
What a wonderful waterfall guys! Hope you used this analysis and adjust accordingly to your trading plan! As I said, I'm not here to give signals, but to share my insights on the potential moves. So what you can do is to use my analysis and overlaps yours to get a holistic view.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.