Market Overview As we begin Week 07, XAUUSD continues its bullish expansion across all higher time frames.
Quarterly: Q4 made a higher high and closed back in the Q2 range, printing a doji that hinted at indecision. Monthly: January closed above all previous months, confirming strong bullish sentiment. Key levels are ST-HH at 2790 and ST-HL at 2536. Weekly: Last week broke above the previous ATH at 2790, continuing the larger bullish trend.
Key Observations Caution Amid Bullish Momentum: Higher highs are printing, but a retracement into the recent expansion remains possible. Daily Levels: ST-HH at 2882: Price traded above this level intraday, signaling continued strength. POI at 2867: Thursday’s candle open from last week serves as a critical level for potential retracements or re-entries. Intraday Strength: Price continues to confirm the bullish trend on lower time frames.
Next Steps Manage Long Positions: Hold existing positions and align with risk parameters. Monitor Retracements: Look to re-enter at key levels like 2867 for potential scaling. Stay Trend-Aligned: Use intraday structures to optimize entries for continuation.
Reflection Prompt How does tracking higher time frame levels like 2867 help refine your entries and maintain confidence in a strong trend?
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