ltasbiee_xF

XAUUSD . To be honest, the upside movement we saw in gold during today’s asian session ideally shouldn’t have happened. however, since the market opened with a gap down, it needed to fill that gap — and that’s the main reason we saw that upside move. the gap is now filled, but at higher levels, especially above $4700, buyers stepped in again. even now, the way the market is behaving — very choppy from the top — it clearly shows that retail buyers are repeatedly trying to buy in search of a retracement. but at the same time, the market is slowly making its real move without being obvious. personally, i remain bearish for this week. as i’ve already mentioned, as long as price stays below $4734, i’m not changing my bias. considering all this, i’m expecting a selling move in gold within the next few hours. right now, because price is hovering around $4700, it’s creating confusion among traders — that’s why we haven’t seen a clean sell-off yet. but based on the structure, i believe this is a zig-zag type selling pattern forming on monday, which should play out in the coming hours. the only condition is that the market should continue trading below $4720. in this scenario, we should look at every buying move as a potential trap. as discussed in the weekly analysis, the $4644–$4660 zone has equal lows, which likely represents the final hope for buyers. the market may try to invite as many buyers as possible before making a downside move. since it’s monday, avoid being aggressive — the market is still choppy. also, the FOMC press conference is on wednesday, so ideally we should see some downside movement in gold before that, pushing more traders to shift their bias from bullish to bearish. after that, we may witness the real move in gold.