Weekly Analysis with buy/Sell scenarios in Gold/XAUUSD👋👋👋 Friends, What's your view on Gold???
Last week price moved as we analysed (scenarios: bullish continuation if price sustains above $5,100, which can extend the rally toward $5,250–$5,300). Hope, you enjoyed it.
Last week, Gold (XAUUSD) remained firmly bullish, trading broadly in the $5100–$5,300 range, with dips getting aggressively bought and prices sustaining near the psychological $5,100 level, Structurally, gold continues to hold its higher-high, higher-low formation on the weekly timeframe.
Looking ahead to next week, the market is likely to remain trend-driven with volatility spikes, where key levels of 5300 and 5450 are critical. These levels may act as point or reversal if backed by volume.
We may see new all-time high, if price sustain above 5450 level.
As per the current scenario slow momentum in upside against the downfall, we may further expect reversal entry model formation at those two upside key levels.
Our approach should be buy on dip till the proper delivery change at any of the key level.
Critical notes.
1. 5450 and 5300 level are critical and should be monitored for high probability trade opportunities.
2. 5300 level becomes strong cluster zone because of convergence of 4th quadrant of range and upside trendline.
3. Most probably price will take liquidity of Key Level/FVG/RDRB level and create MSS/CISD/TS/iFVG in LTF.
4. Price should show rejection/reversal in respective LTF (1h/15m) at Key Level/FVG zone.
5. Take the trade only once clear entry model i.e. turtle soup. iFVG break, CDS or MSS happens on LTF
All these combinations are signalling a high probability and high RnR trade scenario.
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Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) and check with your financial advisor before making any trading decisions.
