XAUUSD (GOLD) ANALYSIS

Hello traders, I hope you're all doing well. It's another week in the markets to catch some market moves and pips as that our sole task in the charts. XAUUSD price dropped to a demand level on H1 & H4 at 1710.45 & 1701.40 which is the origin of the previous rally to the 1st H1 high at 1743.04. Took buy entries during NYSE at 1711.37 with SL at 1703.04 after several failed attempts to take the buys at a decent entry place. Setup taken is a drop base rally, a reversal setup and my target is at the next H1 high and supply at 1742.57.

Price faked out a rally put of demand then dropped back into demand and below my entries putting my trades in drawdown and eventually hitting SL taking out my entries. Closed out on my entries and took re-entries next day during London session at 1707.58 with SL at 1700.23. Price faked out a rally out of demand, followed by a strong drop in price that saw a break of demand and continuation of the drop to 1680. Price got to 1680 then reversed and rallied by a strong push away from demand confirming the shift in market structure to bullish. Price rallied to 1739.125, close to my target for the previous buys I had taken, closing the week with price at 1727.660.