- The overall structure still maintains a medium-term downtrend with a clear series of Lower Highs and the price is fluctuating within a descending trendline channel.
- Multi-timeframe EMAs (H4 - H2 - H1) still support the downtrend as EMA34 is below EMA89 and the bearish DOW structure remains.
- The (5031 - 5037) zone is currently a significant resistance area; a breakout of this zone will trigger a short-term uptrend to (5078 - 5084). The (4967 - 4973) zone is currently a crucial support area; a breakout would open up a wider market decline.
✅ VIEW:
1. SELL SCENARIO:
- The market continuously forms liquidity retests before continuing the downtrend.
- The (H1) candle confirms a breakout of the uptrend.
- Breaking through the support zone (4967 - 4973) and simultaneously confirming a breakout of the Higher Low structure.
=> Confirms the extended downward momentum of the market and targets the (4938 - 4943) and (4900 - 4906) zones.
=> The (4900 - 4906) zone is a historically important structural zone (Demand + Dow previously increased). A break of this zone could lead to a sharp decline in the market.
2. BUY SCENARIO:
- The (H1) candle confirms a breakout of the resistance zone (5031 - 5037).
- Confirms a breakout of the descending trendline and simultaneously a breakout of the Lower High structure.
=> There is a possibility of a short-term upward momentum returning and targeting the (5078 - 5084) zone.
=> The upward momentum resumed strongly when the price broke out of the resistance zone (5078 - 5084) as this is a strong resistance zone and the confluence of the Fibonacci (0.5 - 0.618) zone and the bearish Dow structure.
SELL LIMIT GOLD: 5001 - 5003
STOPLOSS: 5007
✅TP1: 4998
✅TP2: 4981
SELL LIMIT GOLD: 5019 - 5021
STOPLOSS: 5026
✅TP1: 5016
✅TP2: 4997
BUY LIMIT GOLD: 4938 - 4940
STOPLOSS: 4934
✅TP1: 4943
✅TP2: 4960
- Multi-timeframe EMAs (H4 - H2 - H1) still support the downtrend as EMA34 is below EMA89 and the bearish DOW structure remains.
- The (5031 - 5037) zone is currently a significant resistance area; a breakout of this zone will trigger a short-term uptrend to (5078 - 5084). The (4967 - 4973) zone is currently a crucial support area; a breakout would open up a wider market decline.
✅ VIEW:
1. SELL SCENARIO:
- The market continuously forms liquidity retests before continuing the downtrend.
- The (H1) candle confirms a breakout of the uptrend.
- Breaking through the support zone (4967 - 4973) and simultaneously confirming a breakout of the Higher Low structure.
=> Confirms the extended downward momentum of the market and targets the (4938 - 4943) and (4900 - 4906) zones.
=> The (4900 - 4906) zone is a historically important structural zone (Demand + Dow previously increased). A break of this zone could lead to a sharp decline in the market.
2. BUY SCENARIO:
- The (H1) candle confirms a breakout of the resistance zone (5031 - 5037).
- Confirms a breakout of the descending trendline and simultaneously a breakout of the Lower High structure.
=> There is a possibility of a short-term upward momentum returning and targeting the (5078 - 5084) zone.
=> The upward momentum resumed strongly when the price broke out of the resistance zone (5078 - 5084) as this is a strong resistance zone and the confluence of the Fibonacci (0.5 - 0.618) zone and the bearish Dow structure.
SELL LIMIT GOLD: 5001 - 5003
STOPLOSS: 5007
✅TP1: 4998
✅TP2: 4981
SELL LIMIT GOLD: 5019 - 5021
STOPLOSS: 5026
✅TP1: 5016
✅TP2: 4997
BUY LIMIT GOLD: 4938 - 4940
STOPLOSS: 4934
✅TP1: 4943
✅TP2: 4960
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.