SLouise96

After a breakthrough of the bullish 30min trendline, we see the potential for a continuation of the htf bear run. I am waiting for this to display confirmation via a retest at two potential price levels - 2041 and 2045. The latter being more likely considering it is an OB. Although the FVG created only covers the former. Depending on the nature of price action following NFP this afternoon, I will look for taking price all the way to 2033 bullish OB. My initial target of 2036 stands to be most likely and will require a grab and run of liquidity.

As we await for this influential moment, the markets remain consolidated with very little volatility - which makes sense. With an already weaker dollar, we have seen some conflicting loss in value of XAUUSD. Although i'm tempted to believe it is the result of the optimistic speculation over the pending NFP figures. With an expected 20% rise, will this deflate the value of XAUUSD, or provide concerns over the inflation of the US economy.All other things being equal, i expect a small tumble in price to the 2022 level before rejecting it and continuing its bullish drive. The first target looks to be 2037, followed by 2050. Perhaps even heading back to that region of 2070 where we can see a strong longstanding bearish OB that coincides with the all time high.Alternatively, if all is well with NFP news and things go as expected, a downwards crash towards that sell side liquidity @2009.72 with an approximate minimum of 1% fall in value.

XAUUSD - we previously saw an a tempt at retesting an older OB. The most recent inefficiency has created a FVG that is currently being tested and slowly explored. While these signs appear promising for a sell, we are still seeing some buying pressure, indicated with over 50 on stoch. Momentum however is negative so we can expect confirmation of a bearish trend to follow. Since the daily trend is bearish, I am placing tp at the demand level. However I’ll review this if the trade is taken.

XAUUSD has been a recent rollercoaster of indications, and while this is nothing new, we can see this being the result of a consolidation phase thats identifiable across multiple timeframes. Price is relatively neutral and balanced, however stochastics favour a bearish setup suggesting a breakout of the flag from below. The daily and 4h trend based fib extension have one price range in common. 1896 - 1898. 1916.974 being a first target with 1897 an overall target.

Ive analysed XAUUSD on a 4h timeframe and identified a previous impulsive wave that preceded a correction finishing at 1901.Price has since show indication of starting a new impulsive wave with its first HH at 1948.17 followed by the formation of a higher high.

I’ve identified a ceiling with a double top formed by two rejections of said support. Momentum is also downwards facing and negative.Entry: 1926.17SL: 1931.50TP: 1917.50

We can see price falling just short of 1900 as it bounced straight back up earlier today. This strong rejection might be starting up a reversal of the short term fall in gold prices. Signals are mixed and the bias goes neither way as of current.I’m still confident of a retest and breakthrough of 1900 with the target of 1885 in sight as a stronger floor. We’re watching the price rise slow down, a behaviour often correlated to a change in direction. With the USD remaining strong at them moment, it indicates a high probability of further loss. Reasons to take:- Price is still under EMA100- The market has maintained its downtrend within its trend supportsStochastic and momentum on the 1hr timeframe do not yet signal the confirmation of an impending fall in price. So we wait !

So both the 4 hr and 1hr timeframe can be seen with this bouncing pattern that decreases overall. A slight pullback occured last week but as the market opened, we have continued the recent downtrend.I currently have trades running with a TP 1903.500 but will be looking for entry again once this support has been broken. Im expecting price to be taken all the way to 1884.45. Reasons to take this trade (4hr):- Negative and downwards facing momentum- Stochastic is below 50, %D above %K, downwards facing and oversold- Price is below the EMA100What I will be looking for (4hr)- Break of floor at 1903.500- The above conditions to continue - Rejection of said support. XAUUSD shows large rejections when pulling back. The gradient flattens as direction changes.