Two possible scenarios for XAUUSD

Nov 25, 2023

XAUUSD

The last two weeks we saw a clear bounce from the daily Fair Value Gap (checkpoint "6") heading for the Buyside Liquidity that's resting above the old high (checkpoint "1") . Also we should take into consideration that above the old high "1"on the far left of the chart there is a bearish Orderblock (checkpoint "2") . Given that , if we break the checkpoint "1" we could reach the checkpoint "2" (Bearish Orderblock) . From that point, there are two scenarios. First is the bullish: we break the buyside liquidity and the Orderblock ("1","2") . The next Liquidity on the chart is at the old highs on checkpoint "3" and the checkpoint "4". So we are talking about one straight-up move. The second scenario is the short-term bearish but long-term bullish: we break above checkpoint "1" but reject from the bearish Orderblock ("2") heading towards the daily Fair Value Gap that is resting below (checkpoint "5") . After that , we could see a bullish reversal to the upside and a "stronger" gold reaching for the ATH. ( One possibility is that after hitting checkpoint "5" the price can go to the checkpoint "6" for a quick "stop-hunt").

Dec 1, 2023

Note

And today we reached the ATH. Gold run exactly as we said in the idea above , piercing through the buyside Liquidity levels