Bearish Indications
• Resistance Zone at 1821.42
• Significant Resistance Zone at 1846.90
• Seasonal Analysis shows
DXY remains bullish in January at 60%.
• No Divergence spotted.
• As per analysisDXY is moving towards a bearish trend.
Bullish Indications
• Higher Highs and Higher Lows
• Three White Soldiers
• Significant Support Zone at 1814.11
• On a 1-day timeframe AB=CD where the D point is at 1881.27, indicating a reversal after price action reaches that point.
• Gartley’s XABCD on 1 hr Time Frame Indicates a reversal in the area of 1815.98
• Seasonal Analysis shows
XAUUSD remains Bullish in January 70%
• On 4hr timeframeDXY has tested the horizontal Channel support line on several Occasions
and breaking it down could start a new bearish trend.
• As per the nature ofDXY and XAU are traditionally
negatively correlated, When the Price of DXY goes down XAU's price goes up.
Strategy:
Entry Long: 1827.014
TP1: 1845.235
TP2: 1878.105
Stop Loss: 1804.90
Lot Size 0.04 x 2
Risk/Reward: 1:2.25
Manage your Risk/reward accordingly!
• Resistance Zone at 1821.42
• Significant Resistance Zone at 1846.90
• Seasonal Analysis shows
DXY remains bullish in January at 60%.• No Divergence spotted.
• As per analysis
DXY is moving towards a bearish trend. Bullish Indications
• Higher Highs and Higher Lows
• Three White Soldiers
• Significant Support Zone at 1814.11
• On a 1-day timeframe AB=CD where the D point is at 1881.27, indicating a reversal after price action reaches that point.
• Gartley’s XABCD on 1 hr Time Frame Indicates a reversal in the area of 1815.98
• Seasonal Analysis shows
XAUUSD remains Bullish in January 70%• On 4hr timeframe
DXY has tested the horizontal Channel support line on several Occasions and breaking it down could start a new bearish trend.
• As per the nature of
DXY and XAU are traditionally negatively correlated, When the Price of DXY goes down
XAU's price goes up. Strategy:
Entry Long: 1827.014
TP1: 1845.235
TP2: 1878.105
Stop Loss: 1804.90
Lot Size 0.04 x 2
Risk/Reward: 1:2.25
Manage your Risk/reward accordingly!
Note
TP 1 HitTrade closed: target reached
Reached TP 2 Trade Closed.
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.
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.