I had projected Gold to trade around 3900-4000 levels by June.
Central banks intervention probably slowed down the aggressive drop.
A sharp drop in May would have triggered margin calls for many financial institutions.
XAUUSD
3rd retest of the 200 DMA near 4420.
Support is being tested repeatedly.
The lack of a meaningful bounce is becoming more interesting than the support itself.
An accelerated decline phase may not be far away.
June 4th
XAUUSD is at a critical decision point today/tomorrow. A change in character is due.
The market is running out of excuses to remain unchanged. A major swing opportunity should be on its way.
Mark the date and compare the last two months of price action vs post June 4/5
XAUUSD
A major shift in price action is coming.
Q1 2026 delivered extreme volatility and massive ranges. April and May compressed price action.
What follows should be far more stable, cleaner and predictable.
Now is the time to find easier money-making setups.
XAUUSD
Many traders and systems appear to be treating last week's 4366 low as a major support level, with dip buyers trying to buy every dip.
This is slowing downside momentum.
The interesting part comes when the market decides that level isn't as important as it thought.
XAUUSD bounced higher as anticipated.
But I couldn't catch those moves. Hence preparing for next week.
The next big downside move should come next week as I expect the price to consolidate/spend more time inside the range.
XAUUSD
Expected: Consolidation inside the range before weekly close.
When price attempted an escape, I sold the breakout attempt.
+45 points.
The objective wasn't to catch a breakout.
The objective was to understand there wouldn't be one.
@_mctrades The current bounce from 4366 is assuming 4100 as a valid bullish rejection. But I don't think it's valid and needs another lower low.
Today's weekly close should give us more clarity.
XAUUSD bounced higher as anticipated.
But I couldn't catch those moves. Hence preparing for next week.
The next big downside move should come next week as I expect the price to consolidate/spend more time inside the range.
XAUUSD will find resolution for the current consolidation on Thursday 28th May.
Still waiting for that retest of 4600 levels. Made a high at 4580 this week. Let's see if the market is willing to get there by tomorrow.