Still not worth to enter the market / Sidelines

No big updates so far today as the Price-action is pulling back on an Hourly basis having been rejected just above the Hourly 4 #MA50 Support, as expected. As I've mentioned previously, Gold (Xau-Usd spot prices on my focus), is basically Neutral on all charts within roughly a #1,730.80 - #1,750.80 Rectangle and scalpers of the Bollinger Bands are getting the most Profit out of this Price-action. I will continue utilizing my Medium-term Buying pattern and Trading this for as long as it lasts but keep in mind that on the Medium-term the price is still Bullish within the Daily Rectangle. Still I haven’t got confirmation for Medium-term opportunity and it is still not worth entering the market. Today’s U.S. session can have Bearish impact also on Stock markets, hence Bullish for Gold. My Buying bias is unchanged as I will treat Bearish spikes as an oscillation from Overbought to Neutral (Williams%), which created new space for Bullish aggressive correction. Monday’s opening delivered strong Selling pressure on Gold but still not enough since #MA50 Hourly 4 chart is not compromised. Also on the other side, Gold failed to break above the Higher High zone and was rejected (already being around # -0.08%). With Hourly 4 chart now turning Neutral, the spot price (which is always on my analysis) was close to my #1,747.80 (strong Resistance) and the Hourly 4 #MA50 Support as mentioned on the two previous posts. This is an Inverse Head and Shoulders pattern and if the identical pattern of February #24th - March #11th is replicated, then I can expect a #1 session dip on the Hourly 4 #MA50 followed by a Bearish break out below (and towards #1,715.70). So, as I noted, Gold can Trade both way’s and I’ve decided to Trade the breakout (when happens), not taking excessive early risks. Remember, the more times Gold tests the Resistance and gets rejected, the more chances it have to break downwards. The correlation of Gold with the Stock market is very strong. The upside extension remains #1,754.80, so if the #MA50 rejects the price, Gold will rise, if the case is opposite, #1,715.70 should be next.