- Overall, the H4 timeframe structure still leans towards a medium-term downtrend with the formation of a Lower High – Lower Low pattern. However, in the short term, the H1 - M30 timeframe is forming a trendline channel, indicating the market is in an accumulation phase.
- The multi-timeframe EMA (H4 - H2 - H1) still shows a bearish structure as the EMA34 remains below the EMA89. Currently, the momentum is unclear as the price continuously fluctuates between the EMA34 and EMA89 lines.
- The (4573 - 4585) zone is currently a crucial resistance area; a breakout of this zone would trigger a return to higher levels. The (4416 - 4422) zone is currently a crucial support area; a break below this would disrupt the current uptrend and potentially lead to a return to a medium-term downtrend.
✅ VIEW:
1. BUY SCENARIO:
- Confirmation candle breaks through the resistance zone (4533 - 4537).
- Confirmation of a breakout from the descending trendline and simultaneously a breakout from the Lower High structure.
=> A short-term bullish structure will be confirmed.
=> When the price completely breaks through the resistance zone (4573 - 4585), the upward momentum will expand more strongly.
2. SELL SCENARIO:
- Price touches the descending trendline and tests the resistance zone (4533 - 4537) but is rejected.
- A reversal signal appears (pinbar/engulfing candle).
=> The price is likely to reverse and continue consolidating within the trendline.
=> If the price breaks through the support zone (4468 - 4473), prioritize short-term SELL signals towards the support levels below.
=> When the price completely breaks through the support zone (4416 - 4422) and breaks the uptrend line and simultaneously breaks the Lower Low structure, the bearish structure will expand.
SELL LIMIT GOLD: 4537 - 4539
STOPLOSS: 4544
✅TP1: 4534
✅TP2: 4507
BUY LIMIT GOLD: 4468 - 4470
STOPLOSS: 4464
✅TP1: 4473
✅TP2: 4490
- The multi-timeframe EMA (H4 - H2 - H1) still shows a bearish structure as the EMA34 remains below the EMA89. Currently, the momentum is unclear as the price continuously fluctuates between the EMA34 and EMA89 lines.
- The (4573 - 4585) zone is currently a crucial resistance area; a breakout of this zone would trigger a return to higher levels. The (4416 - 4422) zone is currently a crucial support area; a break below this would disrupt the current uptrend and potentially lead to a return to a medium-term downtrend.
✅ VIEW:
1. BUY SCENARIO:
- Confirmation candle breaks through the resistance zone (4533 - 4537).
- Confirmation of a breakout from the descending trendline and simultaneously a breakout from the Lower High structure.
=> A short-term bullish structure will be confirmed.
=> When the price completely breaks through the resistance zone (4573 - 4585), the upward momentum will expand more strongly.
2. SELL SCENARIO:
- Price touches the descending trendline and tests the resistance zone (4533 - 4537) but is rejected.
- A reversal signal appears (pinbar/engulfing candle).
=> The price is likely to reverse and continue consolidating within the trendline.
=> If the price breaks through the support zone (4468 - 4473), prioritize short-term SELL signals towards the support levels below.
=> When the price completely breaks through the support zone (4416 - 4422) and breaks the uptrend line and simultaneously breaks the Lower Low structure, the bearish structure will expand.
SELL LIMIT GOLD: 4537 - 4539
STOPLOSS: 4544
✅TP1: 4534
✅TP2: 4507
BUY LIMIT GOLD: 4468 - 4470
STOPLOSS: 4464
✅TP1: 4473
✅TP2: 4490
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.