XAUUSD TRADING ANALYSIS

As you can see price is still trading below the validation line , so we still waiting if price doesn't break above there no buys it's very simple

For me am waiting for price to break above that trend line with high volume not just a wick for me to go long on gold if price doesn't break above it I will wait

I've set my Buy Limit on Gold at 4116. SL-4052

Let's see how price plays out but I doubt price will get there

That will possibly be tomorrow, not today. So I'll just leave my pending order (Entry:4116, SL:4052) instead of deleting it and setting a new one tomorrow.
Asian session can come and do the push down for London and New York to rally tomorrow.

Let's wait till tomorrow then, if price will get to your region

Let's wait till tomorrow then, if price will get to your region

Yeah. Till tomorrow. Market always has the final say.
I'm seeing an opportunity for short setup as well. Entry: 4175, SL: 4200, but I'm not comfortable selling Gold especially as the week is just starting and price is still trading at a key resistance level.

Watching gold from the 1min timeframe, it's trading at the 1min supply level, I want to see how price react around there my idea is to go short waiting for a bearish engulfing

I will wait for price to rather take out that high before selling

Gold didn't really react to the 4193.68 level as I anticipated, I will reassess and look for another opportunity

4187.29 is the new reference level, if price breaks below it with strong volume we go short but if price reject it and break above we continue in Longs

Price didn't take out 4187.29 level as anticipated, the level I just circled, price didn't close below it rather continue upward

So from that zone I marked I decided to take a buy trade since price wasn't breaking below it

This is the trade history didn't hold for long

Watching the 4193.68 level, got a clean confirmation to go short after price swept above the previous highs and started printing fractal structures

I will sell from my entry, I am still waiting to get a premium price to sell from

Where I marked is the fractal confirmation for going short

If price return to that level it may breakout

This is what am seeing on gold on longer term, price has created a head , a left shoulder which I circled, and still forming the right shoulder too, I will only consider gold to be strongly bullish once that neck line is broken, I marked the neckline with a straight redline for clarity purpose