Gold (XAUUSD) Further Update On Analysis And Trading Plan

Traders, Before hitting this FCP zone GOLD consolidated around 1843 level but we were expecting a bullish move to 1850 FCP zone. Above this zone (if confirmed) was a case for bullish gold. But market did not give us any confirmation and Gold fell from the FCP zone on the completion of a W pattern. The parabolic rise of the DXY (dollar index) pushed the gold faster downwards. Before falling down iot cleaned an area around 1847 which was expected. Now a similar area is below the current price. So Gold in the current for is in consolidation but tending towards bearishness again.

There are few areas where a lot of liquidity is resting to be grabbed so Gold can a little push to the up side but better level for it is below the current price where liquidity is. In this analysis we check out these scenarios and possible levels. Trade one level and case at a time. Manage your risk and positions wisely.

Trade what you see and ignore any hypes. Stay objective.

Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too

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Take care and trade well
-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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