Weekly Edge – End of Week 08, Prepping for Week 09
Market Overview
Quarterly Chart
- Bullish momentum continues into Q1 2025, printing new highs above Q4 2024 levels.
- Six consecutive quarters of higher highs and higher lows reflect sustained bullish momentum.
Monthly Chart
- Breakout from a short consolidation phase, with January closing above December and November highs.
- Price has broken above the recent swing high near 2780.
- An imbalance just below 2780 could serve as a point of interest (POI) for potential long continuations.
Weekly Chart
- Bullish momentum continues, with higher highs and higher lows since January 2025.
- Price has traded above the previous intermediate-term high (ITH) at 2790 and the psychological level of 2800.
- Recent weekly candles closed within the previous week’s range, signaling a potential slowdown in momentum.
Daily Chart Analysis
- Consolidation range between 2940 (high) and 2860 (low).
- Price tested highs near 2955 but stalled around the ITH at 2942.
- Strong rejection on Friday’s retest of Week 7’s Friday close suggests a valid POI for potential long continuations.
Trade Setup & Execution
Long-Term Bias
- Bullish momentum remains strong on higher timeframes, favoring long continuations
Short-Term Bias
- Shorts are valid for potential reversals from current highs, targeting the range low near 2860.
Trade Updates
- Short entry on Wednesday based on a lower-timeframe reversal signal, exited with a small loss.
- Re-entered short on Friday after observing another reversal signal.
Key Observations & Strategy for Week 09
- Stick to the plan and focus on execution without improvisation.
- No attachment to trades—exit and reassess if invalidated.
- Define a clear plan, execute it, and reassess post-trade.
- Avoid mid-trade discretionary changes to ensure consistent outcomes.
Final Thought
The market moves on its own terms. Consistent execution and learning from each trade will provide an edge over time.
#XAUUSD #Gold #TradingView #MarketAnalysis #PriceAction #WeeklyEdge #PipsnPaper
Quarterly Chart
- Bullish momentum continues into Q1 2025, printing new highs above Q4 2024 levels.
- Six consecutive quarters of higher highs and higher lows reflect sustained bullish momentum.
Monthly Chart
- Breakout from a short consolidation phase, with January closing above December and November highs.
- Price has broken above the recent swing high near 2780.
- An imbalance just below 2780 could serve as a point of interest (POI) for potential long continuations.
Weekly Chart
- Bullish momentum continues, with higher highs and higher lows since January 2025.
- Price has traded above the previous intermediate-term high (ITH) at 2790 and the psychological level of 2800.
- Recent weekly candles closed within the previous week’s range, signaling a potential slowdown in momentum.
Daily Chart Analysis
- Consolidation range between 2940 (high) and 2860 (low).
- Price tested highs near 2955 but stalled around the ITH at 2942.
- Strong rejection on Friday’s retest of Week 7’s Friday close suggests a valid POI for potential long continuations.
Trade Setup & Execution
Long-Term Bias
- Bullish momentum remains strong on higher timeframes, favoring long continuations
Short-Term Bias
- Shorts are valid for potential reversals from current highs, targeting the range low near 2860.
Trade Updates
- Short entry on Wednesday based on a lower-timeframe reversal signal, exited with a small loss.
- Re-entered short on Friday after observing another reversal signal.
Key Observations & Strategy for Week 09
- Stick to the plan and focus on execution without improvisation.
- No attachment to trades—exit and reassess if invalidated.
- Define a clear plan, execute it, and reassess post-trade.
- Avoid mid-trade discretionary changes to ensure consistent outcomes.
Final Thought
The market moves on its own terms. Consistent execution and learning from each trade will provide an edge over time.
#XAUUSD #Gold #TradingView #MarketAnalysis #PriceAction #WeeklyEdge #PipsnPaper
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