XAUUSD Trade Setup: Monday (20/03/23)

18 mar 2023

XAUUSD trade setup for next Trading session, Monday:

• Sideways, choppy movement may be in card. Reason: The wide CPR.
  
• The volume profile PoC (point of control) is at 1982 level.
  
• The one sided bullish movement of Friday has the PoC region on the upper side only (1980/82). The trending leg does not see significant participation.
  
• Fib Trend extension says: 1990 and 2000 are the levels. May be after a gap up due to exuberance - quite likely it will fall to retest to 1980 (PoC) and then 1972 (CPR) region.
  
• A clear -ve divergence is apparent in RSI chart. Quite likely it shall retrace.