Gold Caught Between Bulls and Bears – Why I’m Waiting Patiently
XAUUSD, 15
After the strong drop from last week — a move that, as you know, I anticipated quite aggressively — Gold started the new week with another spike lower during the Asian session, briefly breaking under the 4500 figure and reaching a low around 4482.
However, the breakdown did not hold for long.
Buyers reacted quickly, pushed the price back above 4500, and at the time of writing Gold is trading around 4545.
So far, this looks more like a normal correction after an impulsive sell-off rather than a complete reversal of the bearish structure.
And although short-term bulls managed to regain some control, my medium-term view remains unchanged:
➡️ I still expect Gold to eventually break clearly under the 4500 zone.
Until then, though, I think flexibility is extremely important because the market is currently trading in the middle of nowhere.
My short-term view:
- If price drops once again under 4500, I will look for buying opportunities, but I consider this a risky countertrend trade, meaning position size must reflect the fact that the broader pressure still points lower.
- On the other hand, if Gold manages to rally back above the 4600 zone, I will look for selling opportunities in anticipation of a resumption of the broader decline.
At this moment, with price sitting almost exactly in the middle between key areas, I see no reason to force a trade.
Sometimes the best decision is simply to sit on your hands and let the market stop arguing with itself first 🚀