I will be sharing an update for Gold to finish today’s Finlogix analyses.

I do have a pending trade plan which is likely not to be hit for now:

https://www.finlogix.com/analysis/20240215/gold-intraday-analysis-and-trading-plan-for-february-15-2024

There are 8 US major economic reports for this week starting tonight with CB Consumer Confidence.

There is an elevated volatility for Gold. So keep watch.

Re-assessing Gold’s high timeframe candles:

Yearly Candle: Last check was a Red Long Lower Shadow now Red Body

Monthly Candle: Last check was a Gravestone Doji now a Red Body

Weekly Candle: Previous close is a Red Spinning Top now a Red Body

Daily Candle: Previous close is a Red Doji now an Inverted Red Hammer

Gold has broken free from the important psychological 2000 level!

Personally, the recent moving up of Gold is purely a form of manipulation.

It is also an extended up wave move from the 2000 level.

Additionally and notoriously, the buy side liquidity has helped driven the rapid rising of Gold since that level.

Also adding for firepower, of course a weakened US Dollar.

In the 4H chart above, we can see that the downside price actions are slow movements compared to the rising.

Be cautious in selling though. I highlighted a lower high sloping trendline where there are nasty buy side liquidity grabs attempted short positions!

Best is to watch out for a change pace in moving up, if it's slowly rising then start to look for sell setups.

But for now there is likely another rising move hiding in curtains so I’ll be focusing for buy setups only.

Can do scalp sells actually but need to wait for the corrective structure to appear and complete first to be sure.

Entering above Gold’s 4H 50-SMA, here are my buy entries:

Given the current market conditions, I will be a buyer for Gold until I see a complete corrective structure in a slowed manner to the upside.

Manipulated or not, good luck in what I’m seeing for the Yellow metal.