The personal consumption expenditures (PCE) price index witnessed its biggest increase in six months bringing the index to 5.4% for the last year - a whopping 0.6% increase. As the Federal Reserve gears to ratchet up rate hikes again amidst fear of inflation, Gold appears to be consumed by the same inflation that it is supposed to be a hedge against. With prices currently trading within the $1,820 and $1,800 zone, it is worth noting that Gold still has a potential for bullish expectations, but the current bearish momentum could edge stronger if we see a break of the $1,800 level in the nearest future. In this video, we looked at the current market from a technical standpoint and identified structures to use as a yardstick for trading opportunities in the coming week(s).
00:48 Reference to last week's daily commentaries and results
03:50 XAUUSD Technical analysis on Daily chart
07:27 Macroeconomic events to look out for the week
09:35 XAUUSD Technical analysis on 4H Timeframe
10:50 Conclusion on next week's expectation on XAUUSD
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.
00:48 Reference to last week's daily commentaries and results
03:50 XAUUSD Technical analysis on Daily chart
07:27 Macroeconomic events to look out for the week
09:35 XAUUSD Technical analysis on 4H Timeframe
10:50 Conclusion on next week's expectation on XAUUSD
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
The week has started with a market structure that reveals an indecisive situation as price action is trapped within a $4 range since the beginning of the week. This might be in anticipation of the macroeconomic events coming up today (Durable Goods Order and Nondefense Capital Goods Orders ex Aircraft). Good morning
Trade active
Trade active
Buy position was triggered just as discussed during our live session this morning (see video on my channel); secure position as we anticipate more opportunities.Trade active
Ensure buy position is secured as selling pressure is observed below the $1,820 levelTrade active
The continued selling pressure below the $1,820 level has a high chance of breaking down the bullish trendline to incite another wave of the bearish momentum that started this month. Let's be on standby as we keep our eyes on the breakout of the $1,820 level.Trade active
Selling pressure continues leading to the breakdown/retests of the $1,814.50 level as projected to trigger sell-stop order. Time to secure the current position as we look forward to more opportunities.Good morning
Trade active
Secure sell position as buying pressure resumesTrade active
Trade active
Came in now to see buy-stop orders triggered at the breakout of the $1,814 level. Two positions running in profit, secure all sell positions as we look forward to opportunities to add more positions. We discussed this expectation at length during our live session today ( see video on my video channel for reference purposes)Trade active
Ensure all buy positions as selling pressure resumesTrade active
OUTLOOK on the 15-minutes timeframeTrade active
3 positions running in profit as price action breaks out of the $1,830 level; secure all positionsGood morning
Trade active
watch the replay of my live session for trade management ideasTrade active
Secure all buy positions as the fourth position was triggered at the breakout of the $1,836 levelTrade active
Secure all buy positionsTrade active
Secure all buy positions as selling pressure resumes and if this leads to the breakdown/retest of the $1,836.50 level, selling opportunities will be welcomed. Update coming soonTrade active
Secure sell position as price action breaks down the $1,836.50 levelGood morning
Trade active
Just as discussed during our live session this morning; As bearish expectations remain, let's open ourselves up to buying opportunities at the breakout/retest of the $1,835 and bearish trendline.Trade active
Trade active
Secure buy positionsGood morning
Trade active
Another position triggered; secure all buy position as we look forward to maximize our profits.Trade active
The XAUUSD turns out to be our most profitable trade for the week as our positions (multiple entries) scooped over 6,000 pips since the beginning of the week. Secure all positions nowCongratulations to everyone who was part of this journey!
Trade closed: target reached
Trade smart. Trade consciously
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade smart. Trade consciously
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.