XAUUSD | New perspective | follow-up details

I have been trying to upload the video here but due to unknown reasons, I can't. Feel free to watch the full video tutorial on my youtub channel and I promise to drop the update/daily commentaries here as usual... Good night.

The insistence that higher interest rates will be the only way for the Federal Reserve to effectively bring inflation back to its 2% target appears to knock down the price of gold as selling pressure was sighted right below the $1,786 level. Price fell by $20 last week and from a technical standpoint, the appearance of a reversal pattern after the end of last week's trading session is a sign that we might be in for a retracement phase in the coming week(s).

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So since the beginning of the week, we have a channel within the $1,753/$1,744 and as the price is trading below the neckline @ $1,755 that was broken last week, there are two options to look out for selling opportunities;
i. breakdown/retest of the $1,744 or
ii retests of the $1,755/$1,753 area to join the potential decline.

Good morning

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UPDATE

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Over 1,000pips running in profit; secure current position

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UPDATE

We continue to look for selling pressure below the $1,744 level to add more position(s)

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Over 800pips in profit, secure position

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Sell position secured, Remember that we have major events coming up today (Durable Goods Orders, Nondefense Capital Goods Orders & FOMC Minutes ).

Good morning

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What a huge spike after positive that from the economic events (screenshot on the chart). Let's hold on for this candle to close before making any further decisions here. Update coming up soon

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Selling pressure continues hence looking forward to selling opportunities from this juncture.

Comment:

I spoke at length about this during our live session today (video uploaded on youtub)

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Selling pressure continues below the $1,744

Comment:

UPDATE

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FOMC coming up in 10 minutes... A huge spike is very likely at this juncture.

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Secure buy position and anticipate opportunities to add position

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Secure buy position as selling pressure is observed.

Good morning

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UPATE

Retest of the neckline as selling pressure is observed below the $1,755 zone

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Bullish momentum appears to be stalling as sellers continue to reject the neckline area at $1,755.

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Sell pressure continues at the retest of the neckline

Good morning

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Second position was triggered as the price breaks down $1,753 level. I am going live in 2 minutes, see you there!

Trade closed manually:

Price takes out both sell positions with a small profit; I am done for the week.
Congratulations on the profitable journey this week!

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Secure position

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Secure position

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after been taking out from the previous position with approximately 2,000 pips profit, another opportunity to sell appears to be unfolding as I look forward to a breakdown/retest of the $1,753 level for confirmation.

Good morning

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Secure sell position. Note that a breakout of the neckline to the upside might incite a bullish momentum. Update coming up soon.

Good morning

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Selling pressure continues

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Secure position, Fed's Chair Powell's speech coming up in 10minutes

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We maintain existing bias as we wait for the 1hour candle to close

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Price takes out the running position with small profit as the US Dollar plunges following the FOMC hence missing this move, we remain patient at this juncture to look out for opportunities to join the trend. Update coming up soon!

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As discussed during our live session today, the buy position should trigger at the breakout/retest of the $1,786 level. Secure position

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Ensuring that position is secured.

Good morning

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15minutes timeframe UPDATE

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NFP is coming up in an hour. If you missed our live session today watch the video on my youtub channel to see what our expectations are against this event (the video will be uploaded soon).

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UPDATE

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Sell stop triggered as price takes out the buy position with over 1,000pips profit. Secure sell position