XAUUSD Analysis for the Week

I am sharing the technical analysis of #xauusd for the week starting 29 November 2021. I’m using the following indicators:

  1. Investment Castle #channels-indicator
  2. #supply-and-demand Indicator

First off, I start my technical analysis with the weekly chart time frame then I scale down to M15.

I love Investment Castle indicators, we all love Investment Castle indicators :smiley:

The price is still bound by a raising channel in the Weekly time frame and close to the bottom edge of the channel time frame.

To ensure that the price will not breakout the bottom edge of the raising channel, we need a confirmation or futher analysis using lower time frames D1, H1 / H4.

In H1 chart time frame, the price is exactly at the bottom edge of the H4 raising channel and at H4 support / demand zone.

Now, we should expect a pullback from this level following the price action and Elliot waves. However, let’s go down further for further confirmation and see M15 time frame.

As you can see, the price is a strong resistance and M15 channel now has changed to raising channel.

Therefore, I’m expecting a bullish rally from this level. I’d say that the price could reach 1864 (next resistance level).

This only applies when we see bullish candle(s) in the lower time frame. No matter what, you never ever fight the trend.

Leave your comment below, don’t forget to hit the heart and share my analysis. Peace.

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I think the price will go up, but Friday is non-farm and it can be anything. 1780 and 1760 strong levels

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Once the price touches the bottom line of the bollinger band, it is very likely, yes. Watch out for the Fed news today though.

Also, check the pattern in D1 time frame.


I think the next week will be calm and I do not expect strong movements. Correction to 1800-1805 and from there test 1730.

@Geras ccumulation is the best for swing trading. Until now, the trend is still bearish until we see big bullish engulfing candle in H4 or D1 besides the retest pattern in H1.

Have a nice weekend.

The trend is bearish, but there will be a correction, so you need to be careful when buying.I drew in the screenshot how I see further development, but it may be completely different.

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