LiamTrading - $XAUUSD$: NEW WEEK TRADING SCENARIO...LiamTrading - OANDA:XAUUSD $: NEW WEEK TRADING SCENARIO – PRIORITISE SELLING After BREAKING THE TRENDLINE
Hello traders community,
The new week opens with a clear strategy: Prioritise SELLING after Gold has broken the previous upward trendline.
Although fundamental economic news (like interest rate policies and politics) supports Gold potentially reaching the $5,000$ USD mark, we must trade according to the current Price Action. The technical selling pressure is strong. We will SELL at key resistance zones and continue SELLING as the price breaks the downward structure.
📰 FUNDAMENTALS & LONG-TERM OUTLOOK
$5,000$ Prospect: Fundamental and political factors continue to support the scenario of Gold reaching $5,000$ USD in the long term (due to geopolitical risks and potential loss of Fed independence).
Short Term 🔴: Gold is under technical selling pressure after breaking through the $4,000$ USD mark.
📊 TECHNICAL ANALYSIS: TRENDLINE BREAK
Structure: Gold has exited the upward price channel and is retesting the broken trendline.
Priority: SELL at the retest resistance zone $4024$.
🎯 DETAILED TRADING PLAN (ACTION PLAN)
🔴 SELL Scenario (SELL Primary) - Preemptive Resistance
Entry 1: $4024$ (Sell retest trendline zone)
SL: $4032$
TP1/TP2: $4012$ | $4000$
TP3: $3989$
Entry 2 (Continuation SELL): When price breaks the next trendline at $3992$
SL: $4000$
TP: $3940$
🟢 BUY Scenario (BUY Reversal) - Buy at Strong Support
Logic: Only buy when price hits strong liquidity support, potential for a short-term rebound.
Entry (BUY): Around $3960$ (Buy Scalping Zone)
SL: $3954$
TP1/TP2: $3972$ | $3988 FWB:TP3 : $4000$
📌 SUMMARY & DISCIPLINE (Liam's Note) Don't let the $5,000$ USD prospect affect short-term risk management. Trade according to Price Action. Adhere to SL and prioritise SELL positions at resistance zones.
Are you ready for the SELL strategy at the start of this week?
