Weekly analysis of XAUUS/Gold with buy and sell scenarios...Gold has reached to Level 2 as we analysed few weeks back.
Gold has created a strong weekly momentum candle showing positive sentiment. But there is divergence with volume. Candle is strongest amongst last four weekly candles while volume is lowest. On daily time frame there are consecutive 5 buy candles. RSI is also over 80 and oversold All these brings a caution
So, price may take a pause or pull back to adjust pricing. Now we need to be cautious and plan for rangebound pull back.
1. Price has created higher highs in lower time frames and created micro structures.
2. Now price may pull back with some delivery change in lower time frames.
3. Still, we should be positive till delivery changes at 4H/1H TF.
4. Most probably price will take liquidity of FVG/RDRB level and create MSS/CISD/TS/iFVG in LTF.
5. Price should show rejection/reversal in respective LTF (4H/1h/15m) at FVG zone.
6. 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.
