My July And Long-Term Bias on Gold (Xauusd)

8 Jul 2023

XAUUSD


Monthly View On Gold


Currently Gold is at a monthly time frame premium level, which means we can see sell moves on lower time frames anytime from now.

However, when you follow the monthly order flow and price delivery on Gold, you will discover that, prior to this current leg move to the premium draw on liquidity, gold took out sell-side liquidity first before making the move up.

And right now, price has formed a triple top liquidity draw above through the wicks of the 3 leg moves to the premium zone.

I expect price to keep going higher, at least to take out the liquidity at the triple top above.

Also, price is currently at a bullish order block, which can help to push the price higher.

Weekly Time Frame



On Weekly, price is currently at a discount level of the range and currently reacting to the discount PD array of FVG serving as a support for price. Which might hold and push price higher.

Overall, for July, I expect Gold to be bullish.

The only reason price might drop is to rebalance an imbalance below the price, which is less likely to happen this month.

But, hey, this is a Financial market where market makers determine the direction of price delivery they want.


What do you see on your chart for Gold?

13 Jul 2023

Dagangan aktif

As expected gold is now fully bullish for the first 2 weeks of july.

27 Jul 2023

Dagangan aktif

This is the final trading week in July, yet Gold is still bullish.

Exactly as i predicted for July, Gold is bullish.