XAUUSD | New perspective | follow-up details

Following the upbeat on the back of the November jobs report, the price of the yellow metal appears to be stalling at the key level of $1,800. Technically, signs of buying exhaustion continue as selling pressure are observed below the $1,805/1,800 zone towards the end of last week's trading session. In this video, we looked at the chart from a technical standpoint where we were able to figure out set-ups to look out for to either buy or sell the Gold in the coming week(s).

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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, and 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 on a bullish note as price breaks out of the $1,800 level. Now, is this a false or True breakout? I have missed this move hence, the need to remain patient and wait for price action to present an opportunity in the form of a trend continuation pattern or reversal pattern to open a position. Update coming up soon.

Good morning

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5 minutes timeframe

Trade closed: target reached:

Price hits Tp target with 1,400pips profit. Let's wait and see how the price relates to the $1,795 level ( a breakdown/retest of the structure will incite bearish momentum). Update coming up soon

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Second position triggered with about 500pips running in profit; securing position

Trade closed: target reached:

1,800pips profit in our second position as price tests the bullish trendline we identified on the 2H timeframe in the video. Lets see how price relates to this structure.

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Are we going to see retest the $1,778.50 level for another opportunity to sell?

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The waiting still continues.

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Patiently waiting for a signal.

Good morning

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We discussed this structure at length during our live session today as price action transition into a reversal pattern (see video on youtub) with a breakout of the $1,775 level (neckline) could incite the beginning of a retracement phase.

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Just as discussed during our live session today, selling pressure resumes as the price takes out the buy position at break even.

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Secure sell position

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Price action caught within a channel hereby emphasizes the indecision in the market. We shall be waiting for a signal in the form of a breakdown or breakout to either add to the existing position or join a reversal move.

Good morning

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Quick update; Going live in 10 minutes!

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Sell position taking out as buy pressure emerges leading to a breakout of the $1,780 level. Considering the bearish perspective since the beginning of the week, I am of the opinion that this might be a retracement move after which we shall be looking for selling pressure to join the potential second wave of bearish momentum.

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Buy pressure continues as the price retests the $1,780; level to incite a buy position. Secure position while we wait for selling pressure in anticipation of a potential bearish trend continuation.

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Taken out of the buy poisition with about 600pips profit. I still look forward to structure that supports selling opportunities.

Good morning

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Is it time to sell the Gold? So, I am looking at a breakdown/retest of the $1,783 level to open a sell position from this structure.

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buy pressure resumes as we look out for buy opportunities above the $1,786.50 level. See the replay of our live session this morning on my youtub for insight on how to manage the potential options for trading this pair.

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Secure buy position and put into consideration a breakdown/retest of the $1,786.50 for selling opportunities

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Secure buy position as sell pressure resumes

Good morning

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Price takes out the buy position with about 750pips profit as sell position is triggered below the $1,795 level; Secure sell position as we look out for selling pressure to add position.

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Selling pressure surfaces following positive PPI data. Consumer price index coming up in 30 minutes. I am looking forward to more selling pressure below the current structure.