We saw that the NFP favored the dollar last week and didn't move as much as we expected. Still, DXY is strong and XAUUSD has been in a zone for a while with multiple upper rejections.
In this case, I'm waiting for a head & shoulder pattern breaking the neckline (1938.00) from the lower side and retesting the breakout. On the other hand, it may continue with its previous trend but in my analysis, I'm not interested in going up with GOLD this week for a swing position.
But, definitely, I would go If I get any scalp setup with my confluences. Overall, to catch the big move I would like to wait for the lower breakout (Head and shoulder neckline crossover).
This is not financial advice it's my own trading plan for GOLD this week, please do your own analysis before taking an entry, and happy trading.
Thank you
In this case, I'm waiting for a head & shoulder pattern breaking the neckline (1938.00) from the lower side and retesting the breakout. On the other hand, it may continue with its previous trend but in my analysis, I'm not interested in going up with GOLD this week for a swing position.
But, definitely, I would go If I get any scalp setup with my confluences. Overall, to catch the big move I would like to wait for the lower breakout (Head and shoulder neckline crossover).
This is not financial advice it's my own trading plan for GOLD this week, please do your own analysis before taking an entry, and happy trading.
Thank you