XAUUSD .
DON’T FALL FOR THIS TRAP: GOLD IS ABOUT TO FOOL BOTH BUYERS & SELLERS
A very interesting psychological game is likely to unfold in the gold market over the next few hours due to the current price behaviour. There is no doubt that most traders who were buying gold since the beginning of this week have already given up. Many of them are now waiting for a breakdown below the previous week’s low at $4024, planning to enter short positions on any pullback.
But the real question is — will the market actually fulfill their expectations, or is a bigger game about to unfold?
Let’s break it down using market psychology and key institutional levels.
As per my last analysis, the fall we were expecting in gold has finally played out today (Friday). The reasoning behind this move was quite simple. I had already explained that gold took support from last week’s closing price and moved upward on Thursday, which attracted a large number of buyers into the market.
Additionally, the strong upside move after last week’s liquidity sweep made many traders believe that a reversal had already begun. Based on that belief, they continued buying on retracements and support levels. However, they failed to understand the market trap, and as a result, many of them got trapped badly over the last two days.
Last week, we saw a downside move first, followed by a reversal. This week, the price action has been the opposite — first an upside move, then a strong downside move. Currently, gold is trading below $4200 and is near an important institutional level.
Now let’s talk about the plan.
In my weekly analysis, I clearly mentioned that $4136 is a very important institutional reversal level. As you can see, after a sharp fall into that level, gold is now showing signs of reversal from there. This is a good sign, as it shows the market is respecting our planned level.
From this area, I am expecting a strong upside movement. I also anticipate a breakout above t
farah khan
暫無評論，立馬搶沙發