XAUUSD | New perspective | follow-up details

After scooping a 7,000 pips profit from our previous analysis (see link below for reference purposes); the yellow metal posted its third weekly loss as price action drops into the $1,800 zone (where it started the year) clinging to a "strong support" where buying pressure was observed on Friday. With price action stuck at the mid-$1,800 level, Participants will be faced with the dilemma of discerning possible direction amid calls by Federal Reserve officials for sharper rate hikes. This video illustrates from a technical standpoint what we shall be looking out for in the coming week.

00:49 Reference to last week's daily commentaries and results
05:20 XAUUSD Technical analysis on Daily chart
10:30 Macroeconomic events to look out for the week
11:35 XAUUSD Technical analysis on 4H Timeframe
12:04 Conclusion on next week's expectation on XAUUSD

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Transaction en cours:

In the last hour, we witnessed the final break out of the neckline identified in the video at the $1,845 level. This could be a good signal for a potential bullish momentum for the week hence buying above this level. Update coming up soon

Good morning

Transaction en cours:

Sell position triggers as price action breaks down the $1,838 level

Good morning

Transaction en cours:

Transaction en cours:

Secure position

Transaction en cours:

Ensuring that position is secured as buying pressure appears to have resumed around the $1.833 level in the last couple of hours. If this continues, a breakout/retest of the bearish trendline will incite buying opportunities and a breakdown of the $1,833 level will welcome additional sell positions. Update coming up soon

Transaction en cours:

The buying pressure takes out the sell position as price action breakout/retests the trendline identified earlier. Breakout/retest of the $1,838 level will welcome buying opportunities. However, if price action breakdown/retest the $1,833 level - a sell position will be triggered. Update coming up soon

Commentaire:

15-minute OUTLOOK

Commentaire:

Markets remain cautious ahead of FOMC minutes (tomorrow) hence the need to be risk averted with our positions. Best of Luck

Commentaire:

Price action remain choppy in the last 24 hours as we anticipate the FOMC minute today. Update coming soon

Good morning

Transaction en cours:

Secure the buy position as price action triggers buy stop order at the $1,838 level. We discussed the management of this trade at length during our live session this morning (see video on my channel)

Trade fermée manuellement:

Taken out of the buy position and still looking forward to buying opportunities above the $1,838 level but if the contrary happens where a breakdown/retest of the $1,833 level will welcome selling opportunities

Transaction en cours:

Secure the current sell position as we look forward to the FOMC minute coming up in 15 minutes

Transaction en cours:

Transaction en cours:

Transaction en cours:

following the Federal Open Market Committee (FOMC) Meeting Minutes yesterday, price action is back to our entry point and if we consider the breakdown of the $1,833 level yesterday, it is obvious to expect a retest of this structure in anticipation of a downtrend momentum. However, is worth noting that there is a high-impact event - GDP today and this might lead to a consolidation phase around this area before any traction happens. Update coming soon

Good morning

Transaction en cours:

In anticipation of the GDP - secure all sell positions as the bearish trend line and $1,825 level will be our yardstick for more selling opportunities. However, a breakout/retest of both the bearish trendline and the $1,830 level will trigger a buy position. Update coming up soon

Transaction en cours:

Despite a lower-than-expected data of 2.7% (variance of -1.71), the immediate reaction has been bullish for the Greenback to trigger another sell position at the breakdown of the $1,825 level. Time to secure all sell positions

Trade fermée manuellement:

Taken out of the sell position and re-entering another sell stop order below the $1,825 level. However, the continued buying pressure in the last couple of hours as a high chance of inciting buying opportunities at the breakout/retest of the $1,830 level. Update coming up soon

Transaction en cours:

Secure sell position

Transaction en cours:

Trading continues within the ambit of the bearish trendline. Remember that the breakout/retest of the trendline will negate the bearish bias... update coming up soon

Good morning

Transaction en cours:

UPDATE

Transaction en cours:

Transaction en cours:

the third position got triggered at the breakdown of the $1,820 level. With over 5,000pips running in profit on the combined 3 positions, secure all positions as we hope to continue to look out for opportunities to add and ride the move all the way down. Update coming soon