Weekly Analysis with buy/Sell scenarios in Gold/XAUUSDAt weekly time frame Gold has shown sharp and strong reversal candle and closing below the low of previous week. This is signifying change in delivery to downside. Monday has created a strong downside side fall and remaining days went in consolidation mode. Consolidation has effect of year end as well. Price has created SIBI at daily time frame. So we can expect a pullback till SIBI and downfall till DOL (Draw on Liquidity). If price breaks new high, we can expect up move towards the levels of 4720 and 4900.
We should keep eye on both the scenario.
Critical notes.
1. Price may show some consolidation or direct pull back till daily SIBI.
2. If price retraced till SIBI and develop LTF entry model. This may be a good sell scenario.
3. If price breaks and sustains above SIBI and/or all-time high. We may witness further up move till the levels mentioned above.
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 (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 signaling a high probability and ~8/10R 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.
