Monday of Observation - XAU/USD

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Hi, I'm Maicol, an Italian trader.

I've been studying Gold since 2019.

My trading approach focuses on swing trading and intraday setups.

I need your support.
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Make sure to read the full description to understand today's trading plan.
Don't focus only on the chart. Thank you.

🌞 GOOD MORNING EVERYONE 🌞

🔍 Gold Price Action 🔍

Gold arrives from a long weekend with a bank holiday. The war situation remains uncertain – quite the joke.

Weekly Situation: The weekly close was still very strong to the downside, so I could expect the weekly lows to be reached soon.

Daily Situation: The daily chart is also continuing its downward trend nicely, but at the moment it is forming higher lows, which could pose some problems.

Therefore, on Monday I need to wait and see where price positions itself today before making any moves tomorrow.

H4 Situation: The H4 timeframes started well overnight.

Let's see if this pressure brings us to retest higher levels, such as the 50% or 75% retracement of last week's weekly candle.

After that, we might be able to evaluate potential opportunities.

For now, I remain flat and wait for clearer and better-defined setups.

See you later. 📈

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📬 If you have any questions, feel free to message me. I'll be happy to help.

🔍 Reminder 🔍

I avoid trading during the Asian and London sessions.

My main focus is on the high-impact news releases at 8:30 AM ET and the New York session open at 9:30 AM ET.

In the meantime, I wish everyone a great day.

HAPPY TRADING
MANAGE YOUR RISK
BE PATIENT

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