XAUUSD | New perspective | follow-up details

The gold struck a fourth straight weekly gain, settling within a strong psychological range of the $2,000/$1,935 as heightened inflation worries coupled with the banking crisis in the US and Europe limited the growing potential of the Greenback hereby making the Gold a safe haven for market players. In this regard we scooped over 1,500 pips during the course of last week's trading session (see the link below for reference purposes) to end last week on a profitable note. In this video, we analyzed the current market structure from a technical standpoint with the hopes of taking a position ahead of the new week.

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.

Trade active:

A sell position is triggered as price action breaks down the support line for the week at the $1,970 level.

Good morning

Trade active:

Trade active:

secure sell positions

Trade active:

Secure all sell positions

Trade active:

15 minute outlook

Trade active:

Trade active:

Simple trading set-up identified on the 30-minute timeframe as the potential of a reversal pattern is gradually unfolding. Secure all sell positions if you are still selling. Update coming up soon

Trade closed manually:

Price action takes out the buy position. Update coming up soon

Good morning

Comment:

Comment:

30-minute OUTLOOK
We are using the trendline to guide trading activities today

Trade active:

Secure buy position

Trade active:

Two positions now triggered; secure all buy positions now

Trade active:

Secure all buy positions

Trade closed manually:

Price action takes out the two buy positions with approximately 120 pips in profit. Update will be discussed during our live session as we monitor price action around the current structure.

Good morning

Trade active:

Just as discussed during our live session

Trade closed manually:

Selling pressure resumes

Trade active:

Secure buy positions

Trade closed manually:

All positions are closed. We are waiting for a signal and confirmation here for any trading opportunities... We'll discuss this in detail during our live session today, see you there!

Good morning

Comment:

Just as discussed during our live session

Comment:

Price action takes out the buy position at break-even as selling pressure resumes following a below-expectation GDP data at 2.6%

Trade active:

30-minute OUTLOOK

Trade active:

Trade active:

Secure the two buy positions

Trade active:

Selling pressure resumes, secure all buy positions

Good morning

Comment:

Trade active:

After being taken out of the buy position, the sell stop order was triggered at the breakdown of the $1,975 level. Secure sell position as we look forward to adding more positions

Trade active: