XAUUSD | New perspective | follow-up details

The personal consumption expenditures (PCE) price index witnessed its biggest increase in six months bringing the index to 5.4% for the last year - a whopping 0.6% increase. As the Federal Reserve gears to ratchet up rate hikes again amidst fear of inflation, Gold appears to be consumed by the same inflation that it is supposed to be a hedge against. With prices currently trading within the $1,820 and $1,800 zone, it is worth noting that Gold still has a potential for bullish expectations, but the current bearish momentum could edge stronger if we see a break of the $1,800 level in the nearest future. In this video, we looked at the current market from a technical standpoint and identified structures to use as a yardstick for trading opportunities in the coming week(s).

00:48 Reference to last week's daily commentaries and results
03:50 XAUUSD Technical analysis on Daily chart
07:27 Macroeconomic events to look out for the week
09:35 XAUUSD Technical analysis on 4H Timeframe
10:50 Conclusion on next week's expectation on XAUUSD

Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

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The week has started with a market structure that reveals an indecisive situation as price action is trapped within a $4 range since the beginning of the week. This might be in anticipation of the macroeconomic events coming up today (Durable Goods Order and Nondefense Capital Goods Orders ex Aircraft).

Good morning

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Buy position was triggered just as discussed during our live session this morning (see video on my channel); secure position as we anticipate more opportunities.

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Ensure buy position is secured as selling pressure is observed below the $1,820 level

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The continued selling pressure below the $1,820 level has a high chance of breaking down the bullish trendline to incite another wave of the bearish momentum that started this month. Let's be on standby as we keep our eyes on the breakout of the $1,820 level.

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Selling pressure continues leading to the breakdown/retests of the $1,814.50 level as projected to trigger sell-stop order. Time to secure the current position as we look forward to more opportunities.

Good morning

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Secure sell position as buying pressure resumes

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Came in now to see buy-stop orders triggered at the breakout of the $1,814 level. Two positions running in profit, secure all sell positions as we look forward to opportunities to add more positions. We discussed this expectation at length during our live session today ( see video on my video channel for reference purposes)

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Ensure all buy positions as selling pressure resumes

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OUTLOOK on the 15-minutes timeframe

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3 positions running in profit as price action breaks out of the $1,830 level; secure all positions

Good morning

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watch the replay of my live session for trade management ideas

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Secure all buy positions as the fourth position was triggered at the breakout of the $1,836 level

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Secure all buy positions

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Secure all buy positions as selling pressure resumes and if this leads to the breakdown/retest of the $1,836.50 level, selling opportunities will be welcomed. Update coming soon

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Secure sell position as price action breaks down the $1,836.50 level

Good morning

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Just as discussed during our live session this morning; As bearish expectations remain, let's open ourselves up to buying opportunities at the breakout/retest of the $1,835 and bearish trendline.

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Trade active:

Secure buy positions

Good morning

Trade active:

Another position triggered; secure all buy position as we look forward to maximize our profits.

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The XAUUSD turns out to be our most profitable trade for the week as our positions (multiple entries) scooped over 6,000 pips since the beginning of the week. Secure all positions now
Congratulations to everyone who was part of this journey!

Trade closed: target reached: