Hello There,
welcome to my new analysis about XAUUSD on the 4-hour timeframe perspective. In the past, heavy selling pressure hit the price of XAUSD hard. The price dropped -21.42% towards the downside in the first bearish selling wave. The price dropped -24.37% towards the downside in the second bearish selling wave. Large short and put positions have been opened by institutional whales, increasing bearish pressure. Right now, the next bearish wave is forming and should not be underestimated.
As when looking at my chart, we can watch there how XAUUSD is forming this massive descending channel formation. The upper boundary of the channel, serving as a major resistance, was already the origin of the first two bearish waves towards the downside. The second bearish wave has originated in this massive bear flag formation. Since the price action broke out below the lower boundary, the price heavily accelerated bearishly towards the downside.
Right now, XAUUSD is building a similar next bear flag formation. Within this formation, it has several crucial resistances. The most important ones are the 400-MA marked in red and the 300-MA marked in black. These MAs were previously support and have become resistance now. Also, XAUUSD has the strongest resistance within the upper boundary of this massive descending channel. Furthermore, it has resistance determined by the volume profile, as this is signaling a level where a lot of institutional bear volume is staying.
Within the next few times, the MA crossover will fully complete. Once XAUUSD pulls back from the major resistance levels towards the downside, a completion of this bear flag formation will happen with a breakdown below the lower boundary. This will set XAUUSD up for the next bearish wave towards the downside. The first target zone of this wave will be within the 4420 level, as marked in my chart. Should the bearish momentum sustain, there is also the possibility for XAUUSD dropping further towards the 4055 level.
In this manner, thank you a lot for the support!
What do you think about XAUUSD?
Let us know in the comments!
VP
welcome to my new analysis about XAUUSD on the 4-hour timeframe perspective. In the past, heavy selling pressure hit the price of XAUSD hard. The price dropped -21.42% towards the downside in the first bearish selling wave. The price dropped -24.37% towards the downside in the second bearish selling wave. Large short and put positions have been opened by institutional whales, increasing bearish pressure. Right now, the next bearish wave is forming and should not be underestimated.
As when looking at my chart, we can watch there how XAUUSD is forming this massive descending channel formation. The upper boundary of the channel, serving as a major resistance, was already the origin of the first two bearish waves towards the downside. The second bearish wave has originated in this massive bear flag formation. Since the price action broke out below the lower boundary, the price heavily accelerated bearishly towards the downside.
Right now, XAUUSD is building a similar next bear flag formation. Within this formation, it has several crucial resistances. The most important ones are the 400-MA marked in red and the 300-MA marked in black. These MAs were previously support and have become resistance now. Also, XAUUSD has the strongest resistance within the upper boundary of this massive descending channel. Furthermore, it has resistance determined by the volume profile, as this is signaling a level where a lot of institutional bear volume is staying.
Within the next few times, the MA crossover will fully complete. Once XAUUSD pulls back from the major resistance levels towards the downside, a completion of this bear flag formation will happen with a breakdown below the lower boundary. This will set XAUUSD up for the next bearish wave towards the downside. The first target zone of this wave will be within the 4420 level, as marked in my chart. Should the bearish momentum sustain, there is also the possibility for XAUUSD dropping further towards the 4055 level.
In this manner, thank you a lot for the support!
What do you think about XAUUSD?
Let us know in the comments!
VP
การซื้อขายยังคงดำเนินอยู่
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน