Gold with No Drama

Congratulations & Good Work!

XAUUSD has swept the monthly swing low liquidity and closed bullish, showing that price has collected SSL liquidity. On the weekly timeframe, price also swept SSL and gave a body close above it, which supports a bullish bias for this week.

The main weekly destination is the Weekly Volume Imbalance, which is located near the supply area. On the daily timeframe, price has created bullish displacement after grabbing swing low liquidity, and the next-day target can be the Daily Volume Imbalance on the upside.

Currently, price is near the 4H Bearish OB, so a short-term pullback is possible. If price rejects from the 4H Bearish OB with bearish displacement and MSS, price can move down toward the last 4H Bullish OB FVG. From that bullish OB, if price gives bullish displacement and MSS, the buying setup can be planned.

Final Bias: Bullish for the week.
Weekly Destination: Weekly Volume Imbalance.
Next-Day Destination: Daily Volume Imbalance.
Direction: Wait for price to come into the 4H Last Bullish OB, then look for bullish confirmation.
Entry Plan: Refine on 1H and execute on 15-minute timeframe after bullish displacement and MSS.

Happy weekend fellow ambitious Gold Traders!

Trading plan for next week: Holding long over the weekend based on H1 breakout. Good ATR expansion, solid support seems at 4000, and now 4200; we shall see. I note that on the daily, we had major ATR bear expansion in the last week(s); and this week's bull run MAY just be a pullback in a larger downtrend. However, we may have also reached the floor, and with oil prices dropping, and geo-political shocks being ignored/absorbed like the yo-yo they have become, price may continue moving upward.

As always nothing is for sure. H1 TP @ 4292 probability of success backtest approx 60-75% which is pretty decent. Positions in profit or small loss, will flip bear if Sun/Mon shows retrace, as with above, bull run could just be a pullback but the slow H1 (PSAR 0.006) takes ALOT to flip bull and I suspect this is a structural break and we shan't return to ~4000 again anytime soon.

Just my analysis, will flip bear if we starting heading down again, otherwise targetting 4292, 4385, 4421.

EURUSD$ longs are working once again
BTCUSD$ long targetting $72900

Wishing you all best of risk management in the week ahead!

or
H1, Fib


nobody knows

So what is our bias for next week bois?

or

H1, Weekly fixed levels



cheers,