Success resides within the intimate observation of structure.
You would be surprised at the results rendered after creating and maintaining an objective execution based system. Although the charts can only move up and down, they do it in a very specific way - and once you are able to understand price's way of path through the lens of market structure positive results will heighten.
Price maintained bullish structure from December of 2015 until February of 2021 (where price breached and closed below a HL after creating a LH). This may explain the current indecision in the markets.
There are a few things we know for certain; sometimes it is good to observe things from a macro perspective to promote clarity. $XAU is extremely overbought from a yearly perspective, the average price of $XAU since the removal of the gold standard in 1971 is roughly $1,000 lower than today's price.
Secondly, high $XAU prices isn't necessarily good for the USD - or most currencies in general - the manipulated rise of $XAU prices have been due to geopolitical issues and a global pandemic. Money is pumped into $XAU to give economies/governments leverage in times of crisis; and when the countries are in rebuild mode the price of $XAU corrects as economies begin to re-strengthen.
Although the momentum has been favouring the upside as of recent, it is extremely important to be patient and observe OHLC's efficiently, monthly structure is still being respectful to bearish. Price is currently at extremely critical levels, a major level of supply if you are to account what happened to $XAU in 2010 and what followed.
I will be observing microstructure upon prices current retest of the first structural LH, a strong rejection will give high probability to a downside range allowing a very rapid $XAU correction to what could be a new LL.
Feel free to follow me on instagram @viixxivo
Price maintained bullish structure from December of 2015 until February of 2021 (where price breached and closed below a HL after creating a LH). This may explain the current indecision in the markets.
There are a few things we know for certain; sometimes it is good to observe things from a macro perspective to promote clarity. $XAU is extremely overbought from a yearly perspective, the average price of $XAU since the removal of the gold standard in 1971 is roughly $1,000 lower than today's price.
Secondly, high $XAU prices isn't necessarily good for the USD - or most currencies in general - the manipulated rise of $XAU prices have been due to geopolitical issues and a global pandemic. Money is pumped into $XAU to give economies/governments leverage in times of crisis; and when the countries are in rebuild mode the price of $XAU corrects as economies begin to re-strengthen.
Although the momentum has been favouring the upside as of recent, it is extremely important to be patient and observe OHLC's efficiently, monthly structure is still being respectful to bearish. Price is currently at extremely critical levels, a major level of supply if you are to account what happened to $XAU in 2010 and what followed.
I will be observing microstructure upon prices current retest of the first structural LH, a strong rejection will give high probability to a downside range allowing a very rapid $XAU correction to what could be a new LL.
Feel free to follow me on instagram @viixxivo