Looking at XAU on the higher timeframes, we find ourselves at a level where I'm hesitant to buy, but the market isn't quite a sell yet. Given that we're at an all-time high with no references, I've used the trend-based Fibonacci extension to establish my levels along with my fixed Pivot levels. Scalping is fine. Here's where we stand:

1. We're at the top of the ascending channel.
2. We are at the 1.0 level with the Trend-Based Fibonacci, which usually serves as your first
swing take-profit point.
3. Regarding Pivot levels, we've lost the monthly level and are well above it.
4. The daily R1 and Weekly R1 align with the trend-based Fibonacci 1.0 level, making the
2191-2195 range a substantial level.
5. There's still room to move upwards; breaking through 2193 permanently would set the
following levels at 2244 and 2283.
6. The daily pivot is 2176, and the weekly pivot is 2151.

In summary, today may be a calm day, perhaps marked by the formation of a doji as an initial indication of a pullback. Tomorrow will be crucial for XAU, with the CPI and Inflation Rate indicating whether we'll buy or sell.
Trend Analysis

Penafian