Chart Overview
Timeframe: 1-hour chart
Exchange: OANDA
Current Price: 2444.100
Key Levels and Zones
4HR LQZ: 2474.524
1HR LQZ: 2370.122
Support Level: 2348.660
Key Low: 2287.754
Patterns and Channels
Descending Channel:
The price moved within a descending channel before breaking out.
Lower Highs (LH) and Lower Lows (LL) formed within this channel.
...
Chart Overview
Timeframe: 1-hour chart
Exchange: OANDA
Current Price: 2444.100
Key Levels and Zones
4HR LQZ: 2474.524
1HR LQZ: 2370.122
Support Level: 2348.660
Key Low: 2287.754
Patterns and Channels
Descending Channel:
The price moved within a descending channel before breaking out.
Lower Highs (LH) and Lower Lows (LL) formed within this channel.
Ascending...
4H
Bearish impulse / break of last HL: indication .
Pattern within pattern: confirmation.
Head & Shoulders, Bearish W.
Clear support & resistance zone is there.
1H
From 1H POV market is approaching in a corrective way towards entry zone.
= Sell limit.
• Dollar has been showing weakness in recent weeks as markets are expecting the FED to deliver its first rate cut in September.
• The index fell from levels near 106 to 103.60 and then corrected to 104.90 (50% Fibonacci retracement).
• If the jobs report tomorrow shows additional weakness, the Dollar should face selling pressure and break the previous support at...
Major Support / Resistance Zone:
This zone is marked clearly on the chart and acts as a significant level where price has previously reversed or consolidated. It's crucial to monitor how price reacts around this area.
Wave Analysis:
The chart shows a clear Elliott Wave structure, with a 5-wave pattern identified. Waves (1) to (5) represent the motive waves, and...
Hey Everyone!! Here is my Weekend Analysis Round Up for Market Open!!
1) EUR/USD - Head & Shoulders Pattern w/Potential Bearish Wedge as Continuation Confirmation!!
2) AUD/JPY - Possible Correction Wave based off new LOWER LOW!
3) Doge - Stuck in a Pennant?!
S32 has retraced from the top of this triangle and looking to find support on this trendline going back to 2015. S32 also has support from a previous channel and support zone at $2.90 all converging in the same area. MACD is also turning up with bullish hidden divergence on the RSI. If breaks below support zone and trendline then will be no trade and could even...
Chart 1: 4-Hour Timeframe
Trend Analysis:
The chart shows a clear upward trend, forming higher highs and higher lows.
A wedge pattern is visible with converging trend lines indicating a potential breakout scenario.
Key Levels:
Support: Around 2348.248 (4hr LQZ).
Resistance: Approximately 2412.240.
Major Resistance: The upper trendline around 2480.
Recent Price...
4H
Bullish impulse / High: indication.
Bullish M pattern: confirmation.
Clear support & resistance zone is there.
Corrective approach towards entry zone.
-68 Fibonacci aligning with entry zone.
Ascending trend line is there.
= Buy limit.
4H
Bullish impulse / break of last LH : indication.
Inverse Head & Shoulders pattern: confirmation.
Clear support & resistance zone is there.
1H
Corrective approach towards entry zone.
-68 Fibonacci completion aligning with entry zone.
= Buy limit set.
Chart 1: 15-Minute Timeframe
Key Observations:
Trendlines: The chart displays an ascending channel pattern. The upper and lower trendlines are drawn to capture the price action within this channel.
Resistance Zone: There is a marked resistance zone around 2470-2480, where the price has faced rejection multiple times.
Support Levels:
Immediate Support: The lower...
4H
Bearish impulse / Break of last HL: indication.
Head & Shoulders pattern: confirmation.
Clear support & resistance zone is there.
1H POV
Corrective approach towards entry zone.
-68 Fibonacci completion aligning with entry zone.
= Sell limit.
Trade Update: XAUUSD Analysis
Date: July 17, 2024
In our previous post and video, we discussed how to approach XAUUSD given the current market conditions. Let's dive into the latest developments and analyze the chart for further insights.
Key Observations:
Break Above HTF Trendline:
We observed a significant break above the Higher Time Frame (HTF) trendline....
4-Hour Time Frame Analysis:
Higher Highs (HH) and Higher Lows (HL): The chart displays a clear upward trend with higher highs and higher lows. This indicates a bullish market structure.
Ascending Channel: The price is moving within an ascending channel, showing a steady increase in value.
Key Levels:
1-Hour LQZ / Reversal: 2429.940
4-Hour LQZ / Reversal Point:...
4-Hour Time Frame Analysis:
Higher Highs (HH) and Higher Lows (HL): The chart displays a clear upward trend with higher highs and higher lows. This indicates a bullish market structure.
Ascending Channel: The price is moving within an ascending channel, showing a steady increase in value.
Key Levels:
1-Hour LQZ / Reversal: 2429.940
4-Hour LQZ / Reversal Point:...
We provided a really clear outlook on XAU/USD yesterday evening at the start of Asia Session to look for a move to the top side or a possible start to reversal depending on reaction to the support zone being offered.
Today we have a BEAUTIFUL 4HR LQZ being shown in this chart that we are currently participating inside of. Will price reverse after hitting our TP...
In this video, I delve into the crucial aspects of Risk Management and share my insights on interpreting the market when it is in critical zones, just like the one displayed on our current XAUUSD chart. Here's what you can expect:
Risk Management Techniques
Learn the strategies I employ to manage risk effectively, ensuring that my trades are protected against...
![XAUUSD: Gold Price Set to Explode? Must-See Analysis Inside! [Update]](https://s3.tradingview.com/q/qsmR7vc6_mid.png "Gold Price Set to Explode? Must-See Analysis Inside! [Update]")
