The video is about analyzing XAU/USD market movement on November 30, 2022 using D1 and H1 time frames. The market is currently in a sideways movement with potential opportunities for traders. Buy and Sell stops and limits are recommended for entry points, with target areas determined based on past market history. Confirmation candles are important before taking orders.
Analyzing XAU/USD Market Movement: Utilizing Opportunities for Profit
Introduction
Today, November 30th 2022, we will be analyzing the market movement of XAU/USD from a D1 time frame. We will be discussing the recent history of the market movement, the current trend in the market, and utilizing opportunities for profit.
Recent Market Movement
The past few movements in the market were dominated by bullish. The market rose until 1758 but was rejected by sellers. There is a level that cannot be passed which may cause the market to go down if the level is broken. However, the market is still above this level which means the market is still going well. Yesterday, the market had a bullish movement. Although there was no significant clue, we learned that the market is still having a hard time going down. The movement was limited to 1763.
Current Trend in the Market
If we draw a line, we can see that the market is in an uptrend. This trend offers a big opportunity for the market to rise. However, bear in mind that there could also be a chance for the market to move up and down. We can test this by looking into the closest level.
Analyzing the Market in H1 Time Frame
If we want to get more clues about the market movement, we may need to switch to H1 time frame. In H4 time frame, the market appears to be in consolidation, which means there is no meaningful clue that we can rely on. From H4, let’s switch to H1 time frame. The movement is still sideways, and there is no significant movement there either. The market is rejected in the psychology level, which means it encountered a stop.
Utilizing Opportunities for Profit
Given that the market is going down, we must utilize the short movement first. The space is too far for us to put a Sell Stop transaction, so we must pay attention to the wicks. After the market reached the level, it reverses. We can put the target using Sell Stop at 1745.20. The target is at the bottom level of 1740. On the other hand, for the top side, we can put a Sell Limit at 1761.98 and a Buy Limit at 1733.50. Yesterday, the market was short. Therefore, we try to make use of the longer range.
In determining the entry points both on top and bottom sides, we need many confirmation candles. We can test the market using a Buy Stop at 1751 and a Sell Stop at 1745. The target is in an area that we’ve determined before.
Conclusion
In conclusion, analyzing the market movement of XAU/USD from D1 and H1 time frames allows us to make more informed decisions when trading. Utilizing opportunities from the current market trend can provide two-way profit for traders. We hope that the analysis discussed in this article can be helpful for traders making their trading decisions.