$XAU Thesis played out. Now I’m executing. Last week I

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$XAU Thesis played out. Now I’m executing.
Last week I mapped 4,287 as the area I wanted to see for a deeper retracement.
Price just tapped it.
Now I’m starting to build my long position from this area.
4,287 was the level. Price delivered.
Now the important part is seeing how price reacts from here.
I’ll manage the risk and let the market do the rest.
Let’s c how this one plays out.
NFA. DYOR.

PunnyPump

$XAU WEEKLY THESIS
Gold is still bullish overall, but after the aggressive move higher, I’m watching for a deeper retracement before looking for the next long.

The level I’m watching closely is 4,300, with 4,287 being the area I really want to see.

There’s a clear pool of liquidity sitting below the relative equal lows, and that could become the draw on liquidity for the coming weeks.
The interesting part is the DXY correlation.

DXY has already moved into a discount area, so I’m watching how the dollar reacts from here. If DXY starts delivering higher while gold retraces, that could line up nicely with the move I’m looking for in XAU.

My bigger picture remains bullish.

I’m not looking to short gold into the trend I’m looking for a deeper retracement so I can potentially get a much better long entry around 4,300.

Let's c how next week unfolds.
NFA. DYOR.

Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.

XAU+2.49%