XAUUSD โข AlQANAAS analysis
#Gold at a Crossroads ๐ฅ Will It Continue Upward or Start a Correction? | Strongest Buy and Sell Zones and the Upcoming Scenario ๐น Weekly analytical video dated 09/08
We have a resistance and a pivotal zone from 4373 to 4380, a critically important sell area Support levels (4320-4305-4275-4245-4210-4170)
Resistance levels (4380-4420-4470-4505-4550) These are the key zones relied upon on the chart ..
The most likely scenario is a breakout from 4373 to 4380, pulling liquidity above the peak, followed by a strong rejection.
Here we have an excellent sell opportunity, provided the Trigger appears on M5/M15. The targets would be 4320 and 4305; if the break continues, it extends to 4275, a significant zone and the final target, also a key buying area. Gold could revisit this level if a strong pullback occurs, as it previously moved up and left behind zone 4170, which would be the best buying region should price return there ู โฆโฆโฆโฆโฆ ๐ต Scenario 2 โ Continuation of the uptrend The price breaks:4373 to 4380 and closes above it โ a fundamental condition And performs a successful retest of the zone.
If this occurs, the previous peak becomes a demand zone, and it is advisable not to look for sell positions against the trend, as continuation of the upmove is likely (4550) first 4420 and 4470 and 4550.
Break + retest above 4380 = bullish continuation.
โญ My trade hierarchy:
๐ฅFor buying (A+ BUY: (4170 - 4275 โ 4305) after sweep + trigger
๐ฅ A+ SELL: 4380 โ 4374 after sweep above 4374 + confirmed rejection, and each zone is set as a target and support suitable for scalping; after a break, it naturally turns into resistance.
The most important rule now:
Do not buy from 4342 merely because the trend is upward, and do not sell from 4342 merely because price is near the peak. Wait for liquidity โ Sweep โ Trigger