Comprehensive Multitimeframe Analysis

XAUUSD

24.04.2021

Monthly TF

• downtrend, see MACD
  
• Stoch. declines and approaches oversold
  

Weekly TF

• last week doji --> market is undetermined
  
• price is in the value zone close to EMA 20 Weekly
  
• MACD shows uptrend --> long trades preferred
  
• Stoch. approaching rises and approaches overbought
  

Daily TF

• uptrend broken, last two days downtrend
  
• MACD declines confirming downtrend --> Short
  
• Stoch. moved down showing bear power --> Short
  

4h TF

• last top at 1797.934 with bearish divergence according to MACD, RSI and Stoch. showing reversal of trend since 31.03.2021 --> Short
  
• Session Volume is above the price level showing down pressure --> Short
  

1h TF

• price is not in the value zone of MA yet
  

Scenario
support area weeks 14.04.2020 till 15.06.2020 should be tested once again, see weekly chart

If Stoch. will be in overbought area when prices near value zone in 1h TF short trade might be profitable.
First target 1757, second target 1745

Your feedback is much appreciated.

Komentarz:

ATR Daily of last 5 day = $20 --> for 26th Apr. upper Line 1797.35, lower line 1737.35

Please like my Idea if it is useful for you. It will encourage me to post more ideas.

Zlecenie aktywne:

Shooting star at 6 a.m. UTC+1. First target 1771

Transakcja zamknięta: osiągnięto wyznaczony cel:

Reached at 13:10. Next Hour Candle like Hammer?