XAUUSD. Trading opportunities
Hello traders and investors!
Let's see what we can trade on gold.
Daily Timeframe Analysis
On the daily time frame (TF), the price has formed a sideways movement that began on April 9th. The upper boundary is 2450.125, and the lower boundary is 2277.345. The seller’s vector 6-7 broke through the upper boundary of the sideways range, but then the seller brought the price back into the range. The current active seller’s vector is 7-8 with a potential target of 2286.83.
The seller couldn't overcome the first obstacle at 2391.520 (the base of the last sub-impulse of the buyer in the buyer’s vector 6-7). As a result, a local sideways range formed near the upper boundary of the range, which is clearly visible on the 8-hour TF. Trading within this range is possible, from the upper boundary to the lower one, and vice versa. To better understand the situation, let’s look at the lower TFs.
8H Timeframe Analysis
The price has formed a sideways range. The upper boundary is 2483.74, and the lower boundary is 2353.195. The current active buyer’s vector is 8-9, with a potential target of 2477.725.
4H Timeframe Analysis
The price has formed a sideways range. The upper boundary is 2477.725 (this level is the target within the range on the 8-hour TF). The lower boundary is 2410.885. The current active buyer’s vector is 8-9, with a potential target of 2458.875. At the base of the 8-9 vector, a buyer’s zone (marked as a blue rectangle on the chart) has formed after engulfing the seller’s candle, which interacted with the boundary of the range on increased (!) volume.
Buying opportunities
Buying opportunities can be considered based on the execution of buyer vectors 8-9 within the sideways movements on the 8-hour and 4-hour time frames. For example, consider buying from the buyer's zone on the 4-hour time frame, above the lower boundary of the sideways movement at 2410.885.
Potential targets include:
• 2458.875 (test of the seller’s zone near the upper boundary of the range on the 4-hour TF),
• 2477.725 (boundary of the range on the 4-hour TF; point 7 of the range on the 8-hour TF),
• 2483.74 (boundary of the range on the 8-hour TF).
Selling opportunities
Selling opportunities can be considered based on the execution of seller vectors 9-10 within the sideways movements on the 8-hour and 4-hour time frames, if the seller defends the 2458.875 - 2483.74 range.
Potential targets include:
• 2423 (test of the buyer’s zone on the 4-hour TF),
• 2410.885 (lower boundary of the range on the 4-hour TF),
• 2364.39 (future point 8 of the range on the 8-hour TF),
• 2353.195 (lower boundary of the range on the 8-hour TF).
Let's see what we can trade on gold.
Daily Timeframe Analysis
On the daily time frame (TF), the price has formed a sideways movement that began on April 9th. The upper boundary is 2450.125, and the lower boundary is 2277.345. The seller’s vector 6-7 broke through the upper boundary of the sideways range, but then the seller brought the price back into the range. The current active seller’s vector is 7-8 with a potential target of 2286.83.
The seller couldn't overcome the first obstacle at 2391.520 (the base of the last sub-impulse of the buyer in the buyer’s vector 6-7). As a result, a local sideways range formed near the upper boundary of the range, which is clearly visible on the 8-hour TF. Trading within this range is possible, from the upper boundary to the lower one, and vice versa. To better understand the situation, let’s look at the lower TFs.
8H Timeframe Analysis
The price has formed a sideways range. The upper boundary is 2483.74, and the lower boundary is 2353.195. The current active buyer’s vector is 8-9, with a potential target of 2477.725.
4H Timeframe Analysis
The price has formed a sideways range. The upper boundary is 2477.725 (this level is the target within the range on the 8-hour TF). The lower boundary is 2410.885. The current active buyer’s vector is 8-9, with a potential target of 2458.875. At the base of the 8-9 vector, a buyer’s zone (marked as a blue rectangle on the chart) has formed after engulfing the seller’s candle, which interacted with the boundary of the range on increased (!) volume.
Buying opportunities
Buying opportunities can be considered based on the execution of buyer vectors 8-9 within the sideways movements on the 8-hour and 4-hour time frames. For example, consider buying from the buyer's zone on the 4-hour time frame, above the lower boundary of the sideways movement at 2410.885.
Potential targets include:
• 2458.875 (test of the seller’s zone near the upper boundary of the range on the 4-hour TF),
• 2477.725 (boundary of the range on the 4-hour TF; point 7 of the range on the 8-hour TF),
• 2483.74 (boundary of the range on the 8-hour TF).
Selling opportunities
Selling opportunities can be considered based on the execution of seller vectors 9-10 within the sideways movements on the 8-hour and 4-hour time frames, if the seller defends the 2458.875 - 2483.74 range.
Potential targets include:
• 2423 (test of the buyer’s zone on the 4-hour TF),
• 2410.885 (lower boundary of the range on the 4-hour TF),
• 2364.39 (future point 8 of the range on the 8-hour TF),
• 2353.195 (lower boundary of the range on the 8-hour TF).
Note
The price reached 2458.875.
On the 8 hour timeframe, a buyer’s zone has formed where you can look for purchases with targets of 2477, 2483
Note
The price reached 2477.725.
The seller does not show himself. For the seller below, there is an obstacle in the form of a buyer’s zone at 8 hours TF, which I wrote about in a previous post
Note
The price reached 2483.74
Good luck with your trading!
t.me/user_friendly_trading
t.me/user_friendly_trading
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