Weekly Forex Forecast XAUUSD || Weekly gold simple Technical analysis in Hindi || Technical kewat ji

Introduction

Welcome to this week’s Weekly Price Forecast video! In this video, we will analyze the price action in gold using the daily time frame and the four-hour time frame. We will identify the support and resistance levels on the daily time frame and discuss how we can analyze the market in a simple way this week. Make sure to watch the entire video and if you find it helpful, please like and subscribe to our channel to receive notifications for future informative videos.

Previous Week’s Analysis

In the previous week, we analyzed the gold market using the daily time frame. We marked the support and resistance levels and observed how the market traded around these levels. The analysis was straightforward, and we identified a parallel channel that the market respected. If the market broke out of this channel, we had a second resistance level that the market would respect. If the market fell, we had a support area. The market broke out of the channel and respected our second resistance level, indicating a bullish move towards higher highs.

This Week’s Analysis

Now, let’s analyze how we can approach this week’s market. First, on the daily time frame, we need to mark a simple resistance area. Based on the previous week’s analysis, we can see that the market respected a certain level. We extend this level to create a resistance area. Additionally, we can see a support area around this level. If the market breaks this level, it can potentially reach our second resistance level. However, if the market rejects this level, it can act as a support area.

On the four-hour time frame, we can see a trendline that the market respected. We mark this trendline and extend it. The market has also respected this trendline in the previous week. After a breakout, the market held this level, indicating a potential continuation towards higher highs.

Support and Resistance Levels

On the daily time frame, we have identified a support area around 2034.641 and 1908.690. These levels can act as potential support areas for the market. On the four-hour time frame, we have marked a resistance area and a support area based on the trendline. These levels can provide valuable insights for our trading decisions.

Frequently Asked Questions

1. How do I analyze the gold market using the daily time frame?

To analyze the gold market using the daily time frame, you can mark the support and resistance levels based on previous price action. Look for areas where the market has respected these levels in the past. These levels can provide valuable insights into potential support and resistance areas.

2. How do I analyze the gold market using the four-hour time frame?

To analyze the gold market using the four-hour time frame, you can identify trendlines that the market has respected. Mark these trendlines and extend them to identify potential support and resistance areas. These areas can help you make informed trading decisions.

3. How can I confirm my analysis?

To confirm your analysis, you can look for additional factors such as candlestick patterns, indicators, or other technical analysis tools. These can provide further confirmation of your analysis and increase the probability of successful trades.

4. How can I use support and resistance levels in my trading?

Support and resistance levels can be used to identify potential entry and exit points in your trades. When the market approaches a support level, it may bounce off and provide a buying opportunity. Conversely, when the market approaches a resistance level, it may reverse and provide a selling opportunity. These levels can also be used to set stop-loss and take-profit levels.

5. How often should I review my analysis?

It is recommended to review your analysis regularly, especially when there are significant market events or price movements. Keep an eye on any changes in the market structure or new support and resistance levels that may form. Regularly reviewing your analysis will help you stay updated and make informed trading decisions.

Remember, trading involves risk, and it is essential to conduct thorough analysis and risk management before entering any trades. Stay informed, stay disciplined, and always trade responsibly.