Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the XAU/USD, translating the market information by using a full
My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
4 hours timeframe:
1 hour timeframe:
Market currently in a correction wave after a strong impulse.
In lower timeframe the market is clearly following an interesting and it’s just got a strong responsive movement once the price reached an area with a solid demand.
Considering a good trading activity mostly on the higher value of the channel, the intraday uptrend seems to be still healthy and I would be confident to see more continuation until a clear sign of trend reverse.
When, where and why would I step into the market?
The price quickly retraced back inside the channel and almost reached the middle line.
Before planning my long position I will be waiting for a new retest on the lower value of the channel (better with another strong responsive movement from the ) and a good entry point with a RRR of 1:2 or greater on the lower value area.
My SL would be just below the lower value area and the first TP on the middle line of the channel.
A breakout to the downside of the will invalidate this trade and no action will be taken on this market.
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Trade safe and responsibly,
Please note the views are not investment advice and should be used only for educational purpose