Namaste to all Hive and Leo Finance community members🙏

Since a few weeks ago, I have been sharing my technical analysis of XAU/USD (GOLD) with you all and since by the grace of Lord Krishna, my analysis turns out to be pretty damn right every week.
I am sure if you have understood my last week's analysis then you must have made good profits.
Click here to go through our last week’s analysis.

Important points that we talked about last Sunday's analysis are:

•After taking the support of our discussed level 1885 the price has moved up very smoothly, and it has also broken the resistance of 1903.50.

•Of course there is bullishness in the sentiment but still once the price crosses above 24th August indecision candles high, then only it will be safe to initiate fresh buy orders.

•On 25th August we saw strong buying from our key level 1903.50 after a pullback which now signifies bullishness in the price.

•Now this level of 1903.50 which we discussed in our last Sunday's analysis becomes important than before.

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Let us now take another dive into the Gold Chart and see where it could be headed in the coming week.

In the above image you can see at the XAU/USD chart of 1 Day time frame.

Everything that we discussed in our previous technical analysis, we have seen it happening in a perfect manner in the last few days.

In the picture shown above you can see that after taking support of our key level 1903.50 gold price has moved up and crossed the high of the indecision candle of August 24 and moved higher.

Image by tradingview | Above is 4 hour time frame chart of XAU/USD GOLD

Now there are 3 important things to note in the chart above:

•Price has evidently changed its trend from down to up. Which you can identify by looking at the left side of the chart where price was moving in a lower low lower high trend and then after 21st August it started moving in a higher high higher low trend.

•Past 2 days price action is looking quite similar to 24th and 25th August price action. Which means now we can trade considering 1934 as a support and 1948 to 1953 as a resistance zone.

•And Fridays candle itself appears to be a bearish candle. Because, it has a long upper wick, which signifies rejection in the price from higher level.

Now the third point is really very important to note. Because, I strongly believe that price itself is everything, and being a technical analyst you have to believe the data you see on the chart. And right now especially after Friday’s price action it looks like there may be a break on this current momentum.

Image by tradingview | 4 hour TF chart

Now let’s understand the strategy to trade next few days.

Firstly I personally would prefer to wait for the price to break either direction because when that happened the directional move will be sharp.
In the picture shown above you can see our zone marked with yellow lines. I know this price zone is quite big but as they say “A small profit it better than a big loss”.
So if we saw follow-up movement after the price breaks our resistance then 1961, 1964, 1968, 1972 and 1978 could be our next resistance to the upside.

Conversely if we saw follow-up movement after price breaks below our support level 1934 then the next supports could be 1930, 1926, 1923.50, 1916 and 1912.

Thank you for reading this blog.
आज के लिए बस इतना ही।🙏
Have a profitable week👍