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pradipandsuvra

XAUUSD Trade Setup: Monday (20/03/23)

Short
Gold Spot / U.S. Dollar (FXOPEN:XAUUSD)  
pradipandsuvra  
FXOPEN:XAUUSD   Gold Spot / U.S. Dollar
Pivot Points Fibonacci Volume XAUUSD
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pivotpoints fibonacci volumestudies xauusd
XAUUSD trade setup for next Trading session, Monday:

  • Sideways, choppy movement may be in card. Reason: The wide CPR.
  • The volume profile PoC (point of control) is at 1982 level.
  • The one sided bullish movement of Friday has the PoC region on the upper side only (1980/82). The trending leg does not see significant participation.
  • Fib Trend extension says: 1990 and 2000 are the levels. May be after a gap up due to exuberance - quite likely it will fall to retest to 1980 (PoC) and then 1972 (CPR) region.
  • A clear -ve divergence is apparent in RSI chart. Quite likely it shall retrace.
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