Alright traders, buckle up. The new week is knocking — and Gold aka XAUUSD? Oh Gold’s been acting like it’s in a full-blown identity crisis.
Weekly Recap: “I’m Up… But Not Really”
Let’s talk about that June 30th candle (which rudely closed on July 4th, because freedom apparently waits for no one). The candle closed up at 3336 with a high of 3370 and a low of 3240.
“But Khurram, isn’t that bullish?!”
Sure, if you ignore the fact that price made Lower Lows and Lower Highs in the past two weeks. The bounce looks more like a dead cat doing yoga than any actual strength. Also, fun fact: it failed to break the previous week’s Lower High, which basically screams: “I’m trying to look confident but crying inside.”
VSA Says: No One Came to the Gold Party
Volume? Lower than your interest in economics lectures. That tiny, shy volume tells me we’re looking at a No Demand candle on the weekly — aka, Gold just ghosted the bulls. No RSVP. No drinks. Just… vibes.
Translation: I’m expecting more supply to show up and slap Gold back down to earth.
The 3370 Ultimatum — CHOCH or Go Home
If Gold wants to change the plot and pull a bullish stunt, it must break above 3370. That’s the last weekly high and the final gatekeeper to any CHOCH (Change of Character). No breakout above 3370? No party. No BOS (Break of Structure). Just more bearish reruns.
So, unless Gold suddenly discovers a stash of demand and some bullish ambition, I’m not buying the drama.
Supply Zones (Bear Traps in Disguise):
- 3359–3370: The mother of all supply zones. This is the ex who never forgets.
- 3305–3290: A sneaky demand zone for the brave.
- If Gold breaks 3240? Welcome to 3235–3220, where bulls might crawl out from under the bed.
But wait — there’s more.
If Gold ever dreams of touching 3700 (lol), it better drop to 3200, grab a Red Bull, and rocket back up above 3240 — with Ultra High Volume, please. No lazy moves allowed.
Daily Timeframe: Another No Demand Candidate
Let’s zoom in. Friday’s daily candle is basically a “meh” — narrow spread, low volume — probably another No Demand candle unless Monday’s closing decides to shock us.
Most likely scenario? A fake-out move (hello Upthrust), followed by a dramatic nosedive from 3357–3367. The kind of plot twist we live for.
TL;DR for Lazy Traders:
- Weekly candle closed up — but it’s a trap.
- Bearish momentum continues unless 3370 breaks.
- 3359–3370 = danger zone.
- 3200–3220 = demand zone with potential rescue squad.
- Friday’s daily candle is suspicious — Monday might confirm the betrayal.
Final Thoughts (and Warnings):
Gold is basically playing the role of “Possessed Ex” — shows interest, then disappears.
Use your brains, not just your MACD.
Structure is still bearish — don’t let a green candle fool you into marrying it.
Disclaimer:
This is NOT financial advice — this is caffeine-powered commentary from a guy who talks to charts more than people. If you make money, send biryani.
If you lose it all, don’t blame me — blame your oversized lot size and emotional attachment to candles.
And remember:
Just because its closing UP doesn’t mean its loyal.
Stay safe out there.
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[…] yes, in case you forgot — 3370 was, is, and remains the final boss level for bulls. Until Gold breaks it cleanly and closes above it like it actually means it — I’m not […]