It is obvious on the chart that Gold (XAUUSD) has been bullish since November of 2022. We have not seen a low below that of October 2022. Consequently, we have been seeing Highs and breaks of All Time High in April 2025. The Bullish trend is what is looking unstoppable as buyers keep up the pace.
In the last couple of months XAUUSD has been consolidating. And, if one is not wise in the financial market a newbie will think that after the consolidation there will be a serious correction but the case is different. The bulls are not giving any chances and it has marked $3,453 zone as a strong resistance while $3,286 zone as a strong support. Therefore on a monthly time frame it is best to wait for a breakout from this zone in other to confirm its next move. Patience is a very important tool and an attitude every wanna be successful trader must have.
The truth will always remain the truth and nothing can change that. We should all know that there is manipulation in the forex market but data is what they will use to manipulate the market. On a weekly Time Frame, the data agrees with the monthly that XAUUSD (Gold), is currently consolidating and a break-out of this consolidation is what will determine the next move.
The Daily Chart shows a clearer view of what the monthly and the weekly has been showing. A more clearer and self explanatory chart is what the daily is depicting. And as a good trader in this critical consolidation state is to let sellers do their thing while you look for the best place to buy. I will not use the term "Buy the deep", this is because you never can tell how deep it will be.
The four hour chart is showing more bullish than bearish as at this writing. However, the consolidation is still valid a wait for a break out is the best thing a good trader will do, while someone who needs sharp funds can buy from the support and sell the resistant. Keeping an eye on a strong stop loss.
Trading is risky and do not invest the money that you cannot afford to lose
This is not a financial advice
