XAUUSD is in buy zone!XAUUSD Considering 4h timeframe, we can spot 2 significant liquidity candle formation with multiple liquidity grab with series of higher low. As with the previous session, we see 4h candle close with another liquidity grab signaling potential bounce to 2050 level which is another liquidity zone. As monthly price action is bullish, we may see even further trend continuation to the resistance level of 2474.18 level and beyond.
We are on a bullish trade with the possibility to long term trend continuation!!
Goldtrading
Gold Market Outlook: Bullish Trend Expected To PersistOur technical analysis and market indicators suggest that gold will continue to exhibit bullish behavior tomorrow, Identified buy level at 25 and 20, building on the momentum established in recent trading sessions. This optimistic forecast is supported by robust fundamental factors, including:
- Strong investor demand for safe-haven assets
- Central banks' continued gold reserves accumulation
- Favorable macroeconomic conditions
GOLD 4H CHART ROUTE MAP & TRADING PLAN FOR THE WEEK Hey Everyone,
Please see our updated 1h chart levels and targets for the coming week.
We are seeing price between two weighted levels. We have 2438 Goldturn resistance and 2416, as Goldturn support.
We currently have a gap open above at 2438 and below at 2416 and will need ema5 cross and lock on either weighted level to determine the next range.
We will see levels tested side by side until one of the weighted levels break and lock to confirm direction for the next range.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week for the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGET
2438
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2467
BEARISH TARGETS
2416
EMA5 CROSS AND LOCK BELOW 2416 WILL OPEN THE FOLLOWING BEARISH TARGET
2389
EMA5 CROSS AND LOCK BELOW 2389 WILL OPEN THE SWING RANGE
SWING RANGE
2369 - 2345
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
DAILY CHART UPDATEHey Everyone,
Please see update on our daily chart structure that we have been tracking and trading successfully for a while now.
Previously we had 2355 retracement range providing support and the re-actional bounce, as analysed and we stated that we will either look for a ema5 lock below this level to open the range below or a failure to lock below this level will follow with the upper range tests again.
This played out perfectly with no cross and lock below 2355 and therefore we got the perfect bounce re-testing all the targets above.
Prior to last week we also got the ema5 cross and lock above 2405 opening 2464 once again, which was hit once completing the gap again.
Currently we have a ema5 cross and lock gap below at 2355 and then a new turn created a current ema5 cross and lock above 2405 opening 2464 again. We now have gaps both ways and need to keep this in mind when planning to buy dips.
We will use our smaller timeframe analysis and trading plans to navigate the range in true level to level fashion.
Our long term bias is Bullish and therefore we will continue to use our smaller timeframes to buy dips using our levels and setups.
Buying dips allows us to safely manage any swings rather then chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD WEEKLY CHART MID/LONG TERM/RANGE ROUTE MAP Hey Everyone,
Please see update on our weekly chart idea and analysis.
As stated last week, that although we have the final Axis target at 2505, we are expecting resistance and reaction here at 2434, at the channel top and will probably need a few attempts before cracking open the range above.
This played out perfectly with multiple attempts on the channel top and now we got the candle body close above 2434 opening the 2505 gap. However, ema5 cross and lock will further confirm this gap to solidify confirmation.
The drop early last week was only to touch ema5 for the detachment correction, which immediately followed with the push up inline with our plans to buy dips.
The levels within the channel will provide the bounces, inline with our plans to buy dips in true level to level fashion, using our smaller time-frames.
Buying dips allows us to safely manage any swings, instead of chasing the bull from the top.
Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
GOLD (XAUUSD): Detailed Support and Resistance Analysis
Here is my latest structure analysis for Gold.
Vertical Structures
Vertical Resistance 1: Rising Trend Line
Vertical Support 1: Rising Trend Line
Horizontal Structures
Support 1: 2348 - 2364 area
Support 2: 2333 - 2340 area
Support 3: 2265 - 2298 area
Resistance 1: 2468 - 2483 area
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
GOLD MARKET UPDATEHey Everyone,
Please review our 1H chart route map update.
Absolutely amazing to see how well our levels and weighted levels confirmed the continuations and rejections this week once again and how we were able to navigate and track the movement up and down.
We started the week with our Bullish target at 2458 hit. No further cross and lock above this weighted level confirmed the rejection.
We then saw ema5 lock below weighted level 2423 opening the retracement range, which played out perfectly. This followed on with a cross and lock below 2394 opening the swing range. The swing range was hit and then provided the swing and did what it says on the tin providing the full swing inline with our plans to buy dips. - BOOOOM!!!
After completing the swing, we stated that levels were active again, as price was back in the range. This allowed us to track the movement back up level to level completing 2407 and 2423 and now the last gap in this range remains at 2438.
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2458 - DONE
BEARISH TARGETS
2438 - DONE
2423 - DONE
EMA5 CROSS AND LOCK BELOW 2423 WILL OPEN THE FOLLOWING BEARISH TARGET
2407 - DONE
2394 - DONE
EMA5 CROSS AND LOCK BELOW 2394 WILL OPEN THE SWING RANGE
SWING RANGE
2369 (DONE) - 2359
We will now come back Sunday with our Multi time-frame analysis, Gold route map and trading plans for the week ahead.
Have a smashing weekend!! And once again, thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Gold thoughts - 09-Aug-2024Please find my GOLD market analysis for today below. As a price action trader, I encourage you to compare my charts with yours and use my insights to enhance your skills. These videos are designed for educational purposes only, not as trading signals. My goal is to help you grow and become a proficient trader.
GOLD MONTHLY CHART LONG TERM/RANGE ROUTE MAPHey Everyone,
We have been successfully tracking this chart for a while now and after completing all our targets inline with our plans we felt we needed to share a new update on this chart.
2483 target was completed perfectly last month leaving a detachment below to ema5, which was nearly complete on the drop earlier this week and is good enough for a correction.
2536 is our final long range/term target on this chart idea and we will look to continue to buy dips using our smaller timeframe ideas rather then chasing the bull form the top.
Currently we are looking for another likely retest at 2483 and a close above this level will confirm our final target above.
Although the correction to the detachment below is nearly complete, we still need to take caution and keep in mind the small gap for the full correction. This can also be self corrected with bullish momentum by pulling up ema5, as the detachment is only small after the brutal correction earlier this week.
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
XAUUSD Possible short term bounceXAUUSD after daily strong down trend the market started move slowly towards it's long term up trending direction. 15minutes timeframe has formed 2 strong doji with multiple rejection causing gold to bounce and it may continue to bounce to the next resistance at 2404.00 or up
XAU/USD 08 August 2024 Intraday AnalysisH4 Analysis:
Bias/Analysis remains the same as analysis dated 04 August 2024.
-> Swing: Bullish.
-> Internal: Bullish.
Following price printing bullish BOS price pulled back to discount of 50% EQ before targeting weak internal high.
However, bullish momentum and pro swing/internal structure was unable to break and close above weak internal high, which, much like the daily TF, could be an early indication that bearish pullback phase is incomplete and price will seek further liquidity before targeting weak internal high.
Intraday expectation: Technically, price should target weak internal high, however, price has made one failed attempt, therefore, price could continue bullish, react at H4 supply level, print bearish price action, react at H4 demand level before targeting weak internal high.
H4 Chart:
M15 Analysis:
Analysis/Bias remains the same as yesterday's analysis dated 06 August 2024.
-> Swing: Bullish.
-> Internal: Bearish.
Yesterday's intraday expectation was met, assisted by dovish US economic news.
Price has printed a further bearish iBOS followed by a bullish CHoCH indicating bullish pullback phase initiation.
Indication of pullback initiation started by reaction at H4 demand level.
Price is currently hovering around 50% EQ printing low volume rangebound price action.
Intraday expectation: Price to react at premium of 50% internal EQ or M15 supply zone before targeting weak internal low.
Alternative scenario: Whilst intraday expectation is technically correct, we need to bear in mind that internal H4 structure is bullish with bearish pullback phase currently underway and could potentially be complete after reacting at H4 demand level.
M15 Chart:
Fears Fail to Keep Gold Above $2,400: A Temporary Dip? Gold has slipped below the $2,400 mark even as geopolitical tensions possibly escalate, with Israel bracing for potential retaliation from Iran. US intelligence indicates the response could come late Thursday or Friday.
Market attention is also directed towards the upcoming Initial Jobless Claims data, due on Thursday, which investors hope will provide further information about the labor market.
Perhaps in an attempt to calm the volatility seen at the beginning of the week, San Francisco Fed President Mary Daly said Tuesday that “none of the labor market indicators she looks at are flashing red at present ...”.
Perhaps adding to the downward pressure on gold, major Asian central banks appear to have paused their physical gold buying sprees. Reports from the World Gold Council indicate that China has abstained from buying the precious metal for the third consecutive month.
Technically, if the XAU/USD continues its downward trajectory, the next support level could lay at the 50-day and 100-day Simple Moving Average. Further declines could test the May 3 low of $2,277.
GOLD (XAUUSD): Key Support & Resistance Analysis
Here is my latest structure analysis for Gold.
Vertical Structures
Vertical Resistance 1: Rising Trend Line
Vertical Support 1: Rising Trend Line
Horizontal Structures
Support 1: 2348 - 2364 area
Support 2: 2333 - 2340 area
Support 3: 2265 - 2298 area
Resistance 1: 2468 - 2483 area
Consider these structures for pullback/breakout trading.
❤️Please, support my work with like, thank you!❤️
GOLD 4H CHART ROUTE MAP UPDATEHey Everyone,
After completing the swing range activation from our 1H chart, please now also review our 4H chart idea.
The 4H chart idea also had a swing range test and gave the swing, but off the back of a volatile candle and didn't allow for the cross and lock confirmation due to momentum. The swing gave the bounce and an extended push into 2416 Goldturn resistance, followed with the rejection into 2391.
We are now looking for ema5 to lock below 2391 to open the full swing range. Failure to lock below this level will provide another bounce to retest the levels above.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
BULLISH TARGETS
2467
EMA5 CROSS AND LOCK ABOVE 2467 WILL OPEN THE FOLLOWING BULLISH TARGET
2491
POTENTIALLY 2510
BEARISH TARGETS
2438 - DONE
EMA5 CROSS AND LOCK BELOW 2438 WILL OPEN THE FOLLOWING BEARISH TARGETS
2416 - DONE
2391 - DONE
EMA5 CROSS AND LOCK BELOW 2391 WILL OPEN THE SWING RANGE
SWING RANGE
2369 (DONE) - 2345
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
Gold thoughts 06-Aug-2024Hello all, Kindly see my GOLD thoughts for today. These videos are aimed at making you compare charts with mine if you are a price acton trader and use my thoughts to improve your skill. They are not meant as signals even if they seem like they are. I want you to learn and be great
Where should gold shorts go? Is it possible for gold bears to faYesterday Monday, you must have been stunned by yesterday's market? To tell the truth, as far as my experience in the market for more than ten years, Monday, the big market is normal, after all, it may be because of the influence of the information during the two-day break, but, as far as yesterday is concerned, the market performance is relatively calm in the case of such a market, even I am inconceivable, but this also reflects the market's unreasonable, to say the word is not good, as far as yesterday's market is concerned, In addition to bearish, there is no choice, after all, such a strong drop, do more is purely to die, on the contrary, break the vacancy, as long as it is not chased to the floor, it is a profit opportunity, this, I also hope that you are in a good position is, but say a word psychological words, yesterday, the market retail losses are heavy this is a fact, but this is no way, after all, the market accident, When the so-called avalanche, no snowflake is innocent, this point, also because the market retail investors attracted market institutions into the harvest, but not to save the opportunity, but you are still too self-righteous, this point, or that old saying, more reflection, after all, I have said that the bear will break 2400, it is reasonable, in fact, most of you also understand, Just by the fog of the market lost the eyes, this point, the future market pay more attention to the market.
In fact, for trading, the rise and fall of the market has little impact on me, after all, there are countermeasures, but this external restriction is very collapse, take yesterday, the list prompted, the profit process guidance number is gone, there is no way, I can only remind you through a certain way to first small profits out, so as not to suffer accidents, which also leads to the lack of profits, especially afraid that in the process of profit, you are waiting to receive out of the prompt I can not make a prompt, it is more tormenting, and the recent analysis of the state and nearly perfect situation, but encountered various restrictions may also lead to the state into a trough, this, In the case of Chen Feng I think twice, decided to stop guidance from now on, rest 7-10 days first, of course, the specific time to return, the time is tentative, after all, I did not take my lover out for a few years to relax, has been devoted to the guidance of the case, although the lover supports, but also a little complaint, this, I also take this opportunity to compensate it. Of course, I am currently on vacation, certainly in order to better guide you in the future market, this point, you will wait for me to return to lead you to fight the market can be, in the near future, you will be a little patience, finally, thank you for your trust and support. So at the moment, I will not say anything else, directly analyze the current market, you can refer to it at will.
-- Gold market review yesterday --
Yesterday Monday morning, gold opened high near 2444, the opening is up 2447 the first line obstruction ushered in stop fall, but unfortunately, gold only fell back a wave of 2437 to stop rise back into shock near 2445, then, short sudden crash, gold is also directly broke 2430-2420, The lowest fell to near 2413 to meet the stop recovery, and the recovery is also relatively strong, gold directly reversed the decline to rise above 2440, and then the bulls continued to climb to break 2450, the highest to 2458 line to meet the stop and suddenly fell below 2430, this point, for the early morning, the gold market volatility is also extremely intense. During the European trading period, gold continued to fall a wave of 2422 to stop rising 2445, and after a long and short saw, it once again ushered in the next break 2420, and this wave of decline, directly broke 2400-2380, until the eve of the United States, the lowest gold also fell to near 2467. During the United States trading period, gold bears continued to fall a wave of 2364 to stop rising, gold is also a shock to return to 2400, near midnight, gold rallied around 2412 to stop into shock, long and short 2412-2400 saw a final close near 2409.
-- Where should gold wash the long and short? Can gold bears fall further? -
Yesterday Monday, for yesterday, the market volatility is volatile, to say the word is not good, even the non-agricultural market and the Fed information market is not as strong as yesterday, this, for Monday, is undoubtedly not extremely rare, then on Monday, gold opened from 2447 down 2413 produced 34 points of decline, Then rebound 2458 produced 45 points of increase, and then from 2458 to 2364 produced 94 points of decline, and finally the United States from 2364 rebound 2412 produced 48 points of increase, from these big fluctuations alone, Monday produced more than 200 points of volatility, which does not count the volatility of the shock period, you can imagine, How strange the market was yesterday. Of course, some people ask the reason, in fact, for this point, I can only use the wash to evaluate, after all, yesterday's market fluctuations, can not be explained with reasons, that geopolitical risk, gold fell, that the global stock market crash, gold fell, under the influence of geopolitical risk and market turbulence risk, gold can suffer a sharp decline, which is abnormal. Although gold as scheduled in 2360 not to break the situation ushered in a rebound back to 2410, but for the current situation, the rebound is not necessarily to rise, which still exists the possibility of malicious market lure, so for the current, you also need to be cautious.
Then again, for yesterday, the global crash, a variety of stock market circuit breaker situation appeared again, this point, the market is no doubt not suffered panic selling out, in fact, it is not good to say, yesterday's sharp fall in gold, but also part of the reason, then for this situation, gold in the case of stopping at 2360 not broken, Can it usher in a rebound and go higher? In fact, for this point, I still do not think that gold bulls have the power to fight back, to say the word is not nice, gold continued to rise, mainly because of interest rate cut expectations, but for now, the global crash, but also led to the stability of the US economy was questioned, that is to say, the phenomenon of the market can smoothly land interest rate cuts still have some doubts, In addition, there is still some time to go before the interest rate cut in September, gold bull heat is relatively weakened, especially under the impact of yesterday's crash, the market bull retail positions suffered a sharp drop forced withdrawal, but also hit the market's confidence in bulls, this point, gold wants to have a further rise in the short term to return to bulls, Unless it is the outbreak of geopolitical risk stimulus, otherwise, there is still the possibility of further deep fall in gold, of course, you do not blindly speculate when gold will hit bottom, because compared to gold in such a high case, really wait until the interest rate cut landing, short can be said to be bottomless, and for the moment, gold stops at 2360 and does not break on the rebound, more, I think this is just the correction before the fall, bears have downward power, this point, I still reiterate the previous target, that is 2330, of course, 2330 is only a stage of expectations, gold does not rule out the possibility of falling below 2300 again, this, you also need to pay attention to guard against it.
So for today, Tuesday, gold is used to unilateral days, I do not recommend you to consider doing more, more, I personally still feel that around the rebound shorting is relatively reliable, of course, if the outbreak of geopolitical risk, then when I did not say, but even if the outbreak of geopolitical risk, I do not think that gold bulls can do too much, After all, I also said before, gold broke 2400 is an inevitable event, but due to the stimulation of geopolitical risk, the market is also reacting in advance to pull up the gold price, in this case, as long as the geopolitical risk is not out of control, then the bulls are powerless to return to the sky, this point, you will stick to 2410-2414 today directly open short positions, such as breaking, Further hold 2420-2430 continue to short in batches. Below, or pay attention to 2370-2360 can fall again, break the level directly under 2330-2300 do not break and then consider the backhand.
GOLD ROUTE MAP UPDATEHey Everyone,
Great start to the week with our 1h chart idea playing out, as analysed.
Yesterday we stated that we have a candle body close above 2438 leaving a gap open to 2458 and ema5 lock will further confirm this.
- This target was hit. No further cross and lock above 2458, which confirmed the rejection.
We also stated that we have 2438 and 2423 as bearish support targets and will need a cross and lock below 2423 to open 2407 and 2394. A further ema5 lock below 2394 will open the swing range for the extended swing.
- This also played out perfectly completing all the bearish targets and then followed with the swing range. The swing range did exactly what it says on the tin, by providing the perfect extended swing, inline with our plans to buy dips - BOOOOOOM!!!!!
Price is back in the range and therefore all weighted levels are active again and can be tracked level to level using the chart ideas shared.
We will keep the above in mind when taking buys from dips. Our updated levels and weighted levels will allow us to track the movement down and then catch bounces up.
We will continue to buy dips using our support levels taking 30 to 40 pips. As stated before each of our level structures give 20 to 40 pip bounces, which is enough for a nice entry and exit. If you back test the levels we shared every week in the past 24 months, you can see how effectively they were used to trade with or against short/mid term swings and trends.
EMA5 CROSS AND LOCK ABOVE 2438 WILL OPEN THE FOLLOWING BULLISH TARGET
2458 - DONE
EMA5 CROSS AND LOCK ABOVE 2458 WILL OPEN THE FOLLOWING BULLISH TARGET
2475
POTENTIALLY 2491
BEARISH TARGETS
2438 - DONE
2423 - DONE
EMA5 CROSS AND LOCK BELOW 2423 WILL OPEN THE FOLLOWING BEARISH TARGET
2407 - DONE
2394 - DONE
EMA5 CROSS AND LOCK BELOW 2394 WILL OPEN THE SWING RANGE
SWING RANGE
2369 - 2359
SWING ACTION NICELY COMPLETE!!
As always, we will keep you all updated with regular updates throughout the week and how we manage the active ideas and setups. Thank you all for your likes, comments and follows, we really appreciate it!
Mr Gold
GoldViewFX
THE KOG REPORT THE KOG REPORT:
In last week’s KOG Report we said we would be looking for the price to open and attempt to attack the lower support regions 2375 and below that 2367-5, which if held we felt long trades would be available to traders this worked extremely well for us and anyone else who followed the KOG Report. We gave the levels above 2410 and above that 2430 on the break, expecting a pullback around the 2410 region which only gave us a small bounce before continuing. We updated the reports through the week, in particular the FOMC report giving the target level of 2450 which is where we wanted to get a nice entry for to target, unfortunately, we didn’t manage to get the entry for that trade. Instead, we held the longs and finished off another great week in Camelot.
Friday’s NFP, analysis was posted for the Camelot members together with the potential high and the hotspot which worked well for traders giving them the opportunity to enter short, hit the hotspot as well as the Excalibur target which was active.
An extremely decent week not only on gold but all the other pairs we trade alongside our traders in Camelot.
So, what can we expect in the week ahead?
Ok, to be honest, this week we may be subject to complete change based on the move NFP created on Friday, however, we have to go with what the chart is showing us and of course, with this being Gold the unexpected. So, we’ll say for this week we have the order region support level 2430 and below that the extreme level of 2410-13. Above we have the resistance levels of 2450-55 again an important level. If we see price attempt the 2450-55 region in the early sessions, which we feel is likely, a rejection there can bring us down into that 2430-35 region again attempting to break it and take lower into the extreme level below which is where we feel the ideal long trade will come from to carry this back up towards the 2490-95 region. That’s the region we ideally want to see completed before and held for now. This gives us the potential range to play unless one of the key levels are broken. Breaking 2410 we’ll be seeing this flush pretty fast so lets play some caution here, see how the levels react and we’ll take it as we see it.
KOG’s bias for the week:
Bullish above 2430 with targets above 2465 and above that 2490
Bearish on break of 2430 with targets below 2410 and below that 2395
Please do support us by hitting the like button, leaving a comment, and giving us a follow. We’ve been doing this for a long time now providing traders with in-depth free analysis on Gold, so your likes and comments are very much appreciated.
As always, trade safe.
KOG
XAU/USD Outlook ICT ConceptsXAU/USD (Gold) Analysis
💰 Welcome to Your Channel!
Welcome to our channel where we delve into the intricacies of financial markets. Today, we focus on XAU/USD, dissecting its current price action to uncover strategic trading opportunities. Join us as we analyze key levels and market dynamics, aiming to refine our trading strategies and maximize potential gains.
💡 Previous Analysis Review:
We expected the price to sweep the Buy-Side Liquidity (BSL) and then continue lower. However, the price went higher, swept the BSL, and is now reacting to a bearish Fair Value Gap (FVG).
📍 Current Market Overview:
The current price is around 2,425.105. XAU/USD has swept the BSL and is now reacting to a bearish FVG. We can expect a move lower from this level.
🔍 Identifying Key Levels:
• PMH (ATH): Previous Month High (All-Time High)
• PWH: Previous Week High
• PWL: Previous Week Low
• PML (EQL): Previous Month Low (Equal Lows)
• BSL: Buy-Side Liquidity
• SSL: Sell-Side Liquidity
• 4H FVG: 4-Hour Fair Value Gap
• Daily FVG: Daily Fair Value Gap
📊 Key Considerations:
• Swept BSL: XAU/USD has swept the Buy-Side Liquidity and is now showing a reaction to the bearish FVG.
• Bearish FVG Reaction: The price is reacting to the bearish FVG close to the current level, indicating potential resistance and a move lower unless we inverse it.
• Key SSL Levels: There are untouched key sell-side liquidity levels such as the previous week low (PWL) and the SSL below it, along with a Daily bullish FVG below both levels.
• Low Resistance SSL: For any bullish scenario, we need a key sell-side level to be taken or at least some low resistance sell-side liquidity levels on lower time frames to be swept.
📈 Bullish Scenario:
Given the current price action and key considerations, a bullish scenario is possible if the following conditions are met:
• Sell-Side Levels Taken: A key sell-side level needs to be taken or at least some low resistance sell-side liquidity levels on lower time frames to be swept.
• Support from FVG: The Daily bullish FVG below the SSL levels could act as a support zone for a potential bullish move.
• Retracement Higher: After sweeping the SSL levels, we can aim for bullish positions at that point.
📉 Bearish Scenario:
A bearish scenario should be considered if the following conditions are met:
• Continuation Lower: The price is currently reacting to the bearish FVG and could continue lower towards the PWL and SSL levels.
• Clearing SSL Levels: If the price continues lower, it could target the SSL levels and the Daily bullish FVG below them.
📊 Chart Analysis Summary:
• Bullish Expectation: For a bullish scenario, we need to see a key sell-side level being taken or some low resistance sell-side liquidity levels on lower time frames being swept. The Daily bullish FVG below the SSL levels could act as support.
• Bearish Expectation: The current reaction to the bearish FVG suggests a continuation lower. The price could target the previous week low (PWL) and the SSL levels below it, along with the Daily bullish FVG.
✍🏻 Conclusion:
The XAU/USD chart is showing a bearish pattern reacting to a bearish FVG. We can expect a move lower from the current levels. For a bullish scenario, we need to see some key sell-side liquidity levels being taken or low resistance sell-side liquidity levels being swept. Observing how the price interacts with the identified FVGs and SSL levels will be crucial in determining the next steps.
🙏 Thank you for joining us!
Exploring XAU/USD today highlighted the importance of effective risk management in trading success. Prioritize research, implement robust strategies, and seek guidance for confident market navigation. Stay tuned for more insights on our channel. Here's to profitable trading and continuous learning!
⚠️ Disclaimer
The information provided here is for educational purposes only and should not be taken as financial advice. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.
GOLD (XAUUSD): Bullish Outlook Explained
Analyzing Gold on intraday time frames this morning,
I spotted multiple bullish clues.
The price started to nicely respect a rising trend line on a 4H,
after a one of its test, a cup & handle pattern was formed.
I think that the market has a nice potential to retest a current high.
Goal - 2467
❤️Please, support my work with like, thank you!❤️
Gold Thoughts 05-AUG-2024Happy New Month Everyone! Please find my GOLD market analysis for today below. As a price action trader, I encourage you to compare my charts with yours and use my insights to enhance your skills. These videos are designed for educational purposes only, not as trading signals. My goal is to help you grow and become a proficient trader.