[9/16~9/20] Gold price review and next week's scenario

GOLD (XAUUSD)

【Weekly】

• After churning in a daily-down-to-month-up channel, it breaks out to the upside and confirms
• Looks like it could rise toward around 2637, where the 161.8% of the monthly first wave and the 161.8% of the most recent daily up move overlap
• → If a big sell comes afterward, expect a return to the monthly channel upon monthly confirmation; if it keeps rising, it may be a clear sky, and rallies could be chased on shorter timeframes until a reversal

【Daily】

• At the FOMC, formed a weak pattern and seemed to step into the daily zone, but it broke out straight and extended
• → If it pulls back once, target around 2637 for a long entry, and if it takes time, watch for a top wick and a pullback toward monthly confirmation
• With the recent strong upmove, there is little basis for entries on timeframes above the current one, so remaining months will likely focus on short-term trading

【4-Hour】

• Formed an expanding consolidation at a monthly key level and then broke out
• From the current strong upside momentum, if it reaches the higher timeframe key level, it will be difficult to target both long and short, and you may want to avoid trading
• If there are points on the short-term chart where multiple long-entry signals align, go long; if a major sell-off arrives and returns into the zone or consolidation, consider a short on the short term