XAUUSD - 4H Bearish signals in Gold

30 Tem 2023

Are you ready for a new week of trading? Let's delve into the analysis of GOLD (XAUUSD) using the 4-hour chart and assess our expectations for the upcoming period.

The current price action of XAUUSD is exhibiting several signs that suggest another downward movement in the beginning of this week, possibly leading the price to reach the bottom of the trading range or at least a break-even zone. This forecast is underpinned by various underlying reasons, which I will elaborate on below.

Firstly, upon analyzing the chart, we observe that XAUUSD has formed a lower low and a lower high. This pattern indicates the potential continuation of a new bearish trend in the market. Such lower lows and lower highs often signify a shift in sentiment towards selling pressure.

Secondly, the recent price movement reveals a significant presence of sellers in the market. The appearance of two consecutive red candles at the end of last week points to the dominance of sellers, exerting downward pressure on the price of gold.

Furthermore, the buying activity appears to have weakened, leading to doubts regarding the ability of buyers to surpass the resistance zone. This uncertainty is evident from the last rising leg, which exhibits less strength compared to the previous one. A less robust upward movement suggests potential difficulty in breaking through resistance levels.

In summary, the technical analysis of the XAUUSD 4-hour chart indicates that the market is likely to experience a downward movement in the coming week. The combination of lower lows and lower highs, along with a notable presence of sellers and weaker buying momentum, all contribute to this bearish outlook.

However, it's essential to keep in mind that the financial markets are influenced by various factors, and unexpected events or news may alter the anticipated direction. Traders should exercise caution, implement risk management strategies, and stay informed about any developments that could impact the gold market. Always remember that trading involves inherent risks, and one should carefully assess their risk tolerance before making any investment decisions.

2 Ağu 2023

Not

Our market predictions are highly accurate; gold is steadily moving towards our target. We even capitalized on the pullback last night (check that idea), securing a profitable outcome.

2 Ağu 2023

Not

Checkout idea for that pullback here:

6 Ağu 2023

İşlem kapandı: hedefe ulaştı

The target was reached on Friday. Are you prepared for the upcoming trading signals?