Indecision as Contrasting Events Add to Confusion.. for OANDA:XAUUSD by DrAnandM

Indecision as Contrasting Events Add to Confusion..

2345 Is Going to be the Zone.

If Respected

Then 2230 Zone or 2265 Zone could be tested in Coming Weeks..

If Broken

Then 2395 Zone could be tested in Coming Weeks..

3 Possible Scenarios Planned Out..

A - Green
B - Yellow
C - Red

In terms of Probability

B>C>A

This Looks More Likely.

Share Your Thoughts in Comments section.

Note

One more Important Level..

2320..

Note

By the Way..
Just for Sake of Retrospective Analysis.

Gold Bounced exactly from 2278..

Marked in last weekly analysis. Cheers 😊🙏

Note

Even Softening Labour Market and Dovish Powell couldn't trigger a Rally in Gold.

The small Spike also witnessed Profit booking.

Which clears that Gold Buyers are loosing Interest.

So Better to look for some shorting opportunities as mentioned..

B or C

Note

Gold preparing for 2345?

Note

Till the time it's above 2290.

2345 Likely.

Note

SC above 2335

Note

Remember I had mentioned 2320 as important level..

Observe if Gold takes support around the zone or breaks it

Note

A little error in level on my side.

It's 2310 and not 2320.

Note

Pyramiding the Probe around 2315 2310.

Note

Waiting for clarity..
More Bullishness above 2325 only

Note

For now, I'm out of longs

Note

Probability of C>B If Gold starts trading below 2325 in coming sessions.

Note

2325
2310

Trending move on either side break..

Interesting, repeatedly tested the 2310 zone, failed to break..

Possible upside..?

Note

Repeatedly being bought, the 2310 zone.

More Bullishness possible above 2325

Note

2350 opening up

Note

Extreme indecision!

Waiting for price action around 2300.

For more clarity.

Note

SC above 2320

Note

1st 2330
2nd 2355

TP

Note

2330 done.

Deadly drop

2355 out of window.
Look for sell on rise..

C>B as of writing

Note

Unless gold trades above 2330

Note

2230 could be tested coming week if gold sustains below 2330

Note

There has been a tectonic shift in the Volume Profile.

Institutional Shorts could have entered at 2330.

Note

Please do note that I keep learning and some of the learnings could be flawed.

Do not take trades right away.

Only if it resonates with your analysis

Note

Like I said.

A flawed learning. 😌🙏

Although the levels are correct.

Note

2355 is possible.

Note

TP3

2365

Note

TP4

2372

Note

2355 done

Note

2365

2372

Both Done

Note

2395

Last Target

I expect Selling pressure from this level

Note

If Gold rallies beyond 2395, Then Scenario A will be in Play. With next target being 2417.

Note

If gold starts trading below 2370 and sustains below it, we may be in for some decent fall in coming weeks..

Note

2372 Decent selling as of end of week from the last week's mentioned level.

DrAnandM

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