Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the XAUUSD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Top Down Technical Analysis:
Since April 2022, this market has been moving inside a falling wedge, and having a quick look on the higher time frame, you can clearly see the lower lows and highs formed during the further months.
The general momentum, has been bearish for all these months till the market reached the main bottom of the structure, 1675, a strong level, made in the first quarter of 2021.
During the last 2 months, the market tried to “work” into the low, definitely we could see the seller pressure trying to push the price lower and lower.
The volume between 1660 and 1620 looks trapped and it won’t be easy to go back inside that area.
November 2022, a sharp breakout of the structure and and impulsive move for more than 1300 pips, could be the first clue of HTF reverse momentum, if obviously, will follow a clear correction for a such a big movement.
When, where and why would we step into the market?
A part for scalping and day trading positions, if you are looking for a swing/medium term trading, we don’t really think this market is ready for a buy! The impulse is strong, and needs to correct! Having a look on the previous similar impulses, it may need one month or even more in order to complete the structure for a potential further bullish movement.
In that time of course, we will try to be looking for short term long opportunities, still in line with the overall HTF momentum.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Top Down Technical Analysis:
Since April 2022, this market has been moving inside a falling wedge, and having a quick look on the higher time frame, you can clearly see the lower lows and highs formed during the further months.
The general momentum, has been bearish for all these months till the market reached the main bottom of the structure, 1675, a strong level, made in the first quarter of 2021.
During the last 2 months, the market tried to “work” into the low, definitely we could see the seller pressure trying to push the price lower and lower.
The volume between 1660 and 1620 looks trapped and it won’t be easy to go back inside that area.
November 2022, a sharp breakout of the structure and and impulsive move for more than 1300 pips, could be the first clue of HTF reverse momentum, if obviously, will follow a clear correction for a such a big movement.
When, where and why would we step into the market?
A part for scalping and day trading positions, if you are looking for a swing/medium term trading, we don’t really think this market is ready for a buy! The impulse is strong, and needs to correct! Having a look on the previous similar impulses, it may need one month or even more in order to complete the structure for a potential further bullish movement.
In that time of course, we will try to be looking for short term long opportunities, still in line with the overall HTF momentum.
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
