Detailed Price Action and Bar Action Analysis For Gold Charts 27/4/2025
hive-171978·@tricksowned·
0.000 HBDDetailed Price Action and Bar Action Analysis For Gold Charts 27/4/2025
 **We'll start by analyzing the weekly candle 1st as it is now closed which means we can start analyzing the trail left behind by the candle and the wicks. The weekly candle starts the 1st day of the week creating a new all time high and manages to create another new high on the 2nd day before it starts pulling back leaving a long wick behind and then slowly plummeting from Tuesday on and then crashing down to cross the 3,300.00 support to create a bottom wick(and also clearing buy volumes thoroughly) before pulling back to then close the candle with a small red candle body. Since the price wasn't able to break both 3,400.00 resistance and 3,300.00 support which means the price actions we have right isn't clear enough to decide which way the price is going to as this can also be seen as a sideways or a consolidation phase in which the price will move up and down in a zone but will not break either ways, pressuring order holders to close off their orders first no matter the trade is winning or losing because losers will be afraid of price going against them further and it'll be too late to react by then, and winners would also be afraid of the price coming back to break even or even dragging their orders into losing. And when these position holders close off all positions is when the market will start moving again.**  **The daily latest daily candle plunged approximately 1,050+ pips, crossing the 3,300.00 support once more, but was unable to break the support this time as the candle pullback to close above the support indicating a failed break of support which means Price Action is still on the bullish side of the market. But that also depends on the market, because the latest Bullish Reversal candle was created but still not complete yet, so it is still not safe to assume that the market is now on the Bullish side of the trend. It is only by observing the Price And Bar action that we can speculate that the market may go into a bullish trend, as the latest candle did a sharp plunged to clear buy volumes before pulling back to close above support that was crossed which can be seen as the market isn't allowing buyers into the market which means the price have a chance of pushing further.**  **The 4 hour time-frame had completed a reversal as shown in the chart, which means the trend can be counted as bullish, for now. Though market can sometimes confuse you by going against your detailed analysis, do know that it is to trick most traders into confusion to mess up their mentality before going in the said direction once more. That is because there are large numbers of skilled traders, but there are a lot lesser traders with mental fortitude strong enough to withstand the manipulation waves that the market cause in order to clear off volumes from weak minded traders because most of the times, traders actually analysis and predicted the correct direction that the market is moving towards but the problem is they don't have enough trust in their detailed analysis and tends to waver even before the real storm came. Then what they do after being unable to withstand the strong mental storm is to cut loss first even without analyzing once more whether the market is just playing them or really going against them. And then complain when the price starts moving in the predicted direction. I've marked in the chart the spot I've placed my buy limit because if price wants to move further by not allowing more buy volumes that should be the wick to clear and then push up. And I've also marked the next checkpoint the price would have to close above to enter another trade because if price does not close above that spot, it means that the market is still overall bearish.**
👍