XAUUSD is being in consolidating mode

27 feb 2022

Hello all,


What we probably have with XAUUSD this week for short term trading, some following scenarios for XAUUSD could be taken to considering:


At $1,974.485 USD/ounce was the highs Gold did touch, but it quickly rejected there and has been pulled back to $1,878.07 USD/ounce (50.0% Fibs retracement) on the upside.

Some important key points to keep watching for Gold this week:

1) a rebound range of 16 bucks for XAUUSD is detected from $1,894.00 USD/ounce ( if H4 candle closed above this) to $1,908.00 USD/ounce, and probably there XAUUSD will be rejected again;

2) as mentioned at point (1) above, if it occurs, then further lows at $1,850.00 USD/ounce for XAUUSD will be expected for, after that, XAUUSD will be being in its consolidating mode, and being traded with narrow price range again;

3) long XAUUSD, if in the short term TF at M15 Gold closed above $1,894.00 USD/ounce, and then target is at $1,905.00 USD/ounce for intraday trading only;

4) I prefer to short XAUUSD, in case $1,908.xx price level is being touched there, and but rejected then, target for short by that price level is expected for $1,860.xx USD/ounce for this week.

Take your look at the chart for further details.

Trade well!

TS