Short-Term View (5M/15M): Price action trades below EMA-8 and EMA-21, with the SMA-50 capping as resistance. Bearish divergence in momentum (RSI < 50) aligns with rejection candles. Short setups dominate with targets at $2,630.00. Mid-Term View (30M/1H): Bearish structure persists. Breakdowns below EMA-21 align with bearish Fair Value Gaps (FVGs). Support lies at $2,633.00 (Fibonacci 23.6%), with SMA-50 resistance at $2,645.00. Long-Term View (4H): Lower highs and lows confirm bearish dominance. EMA-21 and SMA-50 align as strong resistance near $2,650.00, with a downside target at $2,617.00. Swing Trading View (Daily): Price has rejected SMA-50 ($2,660.00) and trades firmly below EMA-8 and EMA-21. Key target: $2,617.00. Hypothetical Trade Setup (Best Opportunity):
Sell Stop Order: Entry at $2,640.00, Stop Loss at $2,646.00, and Take Profit at $2,630.00.
Comprehensive Multi-Timeframe Analysis & Trading Plan
Price consistently trades below EMA-8 and EMA-21, showing strong bearish momentum. SMA-50 acts as dynamic resistance near $2,642.00. Price Action Analysis:
Bearish candlestick formations like Shooting Star confirm rejection zones at resistance. Overextensions below EMA-8 suggest bearish mean-reversion opportunities. Momentum Indicators:
RSI: At 49, below neutral, confirming weak upward momentum. Stochastic RSI: Approaching oversold levels, watch for a bounce at $2,630. Key Levels:
Resistance: $2,642.00 (EMA-21/SMA-50). Support: $2,630.00 (Psychological and prior low).
2. Mid-Term View (30M/1H) Trend Assessment:
Clear lower highs and lower lows on both 30M and 1H charts. Price trades firmly below EMA-21 and SMA-50, confirming mid-term bearish trend continuation. Fair Value Gaps (FVG):
Bearish FVG zone between $2,645.00–$2,650.00 has been rejected. Tested support near $2,633.00 aligns with Fibonacci 23.6%. Momentum Analysis:
7. Hypothetical Trade Setup (Best Opportunity) Order Type: Sell Stop Entry: $2,640.00 Stop Loss: $2,646.00 Take Profit 1: $2,630.00 Take Profit 2: $2,617.00 Confidence: 80%
8. Key Success Factors (KSF) Trade Alignment: Entries align with bearish trends on all timeframes. Volume Confirmation: Rising negative volume spikes confirm sell setups. Invalidation Level: Breach above $2,646.00 cancels short-term setups. Liquidity Sweeps: Watch for liquidity sweeps near $2,630.00 for added confirmation.
⚡ Final Notes: XAU/USD presents strong bearish opportunities across all timeframes. Key areas to watch are the $2,642 resistance and $2,630–$2,617 support range.
Mohamed
THE Ichimoku MAN on the Nile
#traders4traders
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