XAUUSD Weekly Review: Key Levels, Order Flow and What to Watch Next Week
Gold has been parked at the same support zone for five straight weeks. Five. Straight. Weeks. Historical data shows this type of consolidation typically leads to a breakout of at least $80. The question isn't if, it's which direction. Let me be direct with you. I've been watching this structure since early June. The price action around $4,000 is telling a story most traders are missing.
Not even close to what I expected. Every single time I think I've got it figured out, gold does something weird. But this time feels different. The order flow? Heavy. The volume? Building. The psychology? Fractured.
Here's what I'm seeing. Buyers keep stepping in at $3,950 like clockwork. Sellers? They're testing $4,050 but can't hold it. Every single time. That narrow range is compressing like a spring. You know what happens when springs compress too long.
I'm watching Monday's open like a hawk. Break above $4,050 with conviction? I'm long. Drop below $3,930? I'm short. Simple. No overthinking. The market will tell you what to do if you listen.
One thing I keep coming back to — the dollar index is showing weakness. That's fuel for gold. But don't get complacent. A surprise jobs number or some Fed jawboning could flip everything in minutes. That's just how it works.
So here's my plan. Wait for the breakout. Confirm it with volume. Then ride it. Anything else is gambling.