Gold Updates with Geopolitics and market behaviour:
On Friday, we witnessed the highest daily closing candle just above 3432, close to 3433, which marked the highest daily close candle. Gold continues to form a bullish structure after the correction down to 3120. This thing looks ultra pro max bullish on every time frame. The daily closed at the highest level of all time; the weekly shows buying momentum is at its peak, with no signs of weakness at all.
The geopolitical situation, the war between Iran and Israel, just fuelled it further, and it shows that gold is even rising from a 1-minute order block. That’s what momentum is all about, and we need to go with the flow. Currently, it seems unstoppable as the geopolitical situation heats up, with no signs of a deep correction or retracement.
The main reason I'm saying that gold is not in the mood to correct deeply is because of the consolidation and beautiful accumulation it did under 3400, so there's no point in expecting it to go much deeper than the upper 3400 level. It must stays above the last level shown in the chart for a further move up. We can even expect a rally if gold breaks the 3500 ATH.
My trading plan:
Simple, I will buy any dip, any dip, I will buy. The H1 chart shows four important levels. If the market opens with a gap up, then look for a retest of the upper level for entry. If it opens under the range, then under 3350 there are three major levels where I’ll be looking to add to my buy positions.
In simple words, this gold thing is:
