The Daily Edge - 21st Feb 2025
Bullish Momentum Stalls as Shorts Remain in Focus
Market Overview
Bullish price action continued on Thursday, with the daily candle printing a higher high and higher low range. Price closed above the previous bearish candles, maintaining the overall bullish structure.
However, price remains within the consolidation range, with highs near 2940 and lows around 2860. The short bias remains intact, and we are actively managing short trades currently in play.
Key Observations
Price reacted off the imbalance High 2920 today created by the recent push higher, moving from external to internal range liquidity.
Price is stalling around key levels despite maintaining a bullish structure.
The 50% retracement level of the latest daily swing sits below Friday’s low 2915
Shorts remain active but are at risk as bullish momentum continues within the range.
Our Next Steps
Manage existing shorts and monitor for signs of reversal or continuation.
Watch consolidation boundaries at 2940 highs and 2860 lows for breakout or reversal signals.
Observe price action leading into Monday for potential adjustments to the strategy.
Reflection Prompt
How can managing trades within a consolidation help refine entries and exits, especially when price action begins to stall?
#XAUUSD #Gold #TradingEdge #MarketAnalysis #PriceAction #Discipline #PipsnPaper
Market Overview
Bullish price action continued on Thursday, with the daily candle printing a higher high and higher low range. Price closed above the previous bearish candles, maintaining the overall bullish structure.
However, price remains within the consolidation range, with highs near 2940 and lows around 2860. The short bias remains intact, and we are actively managing short trades currently in play.
Key Observations
Price reacted off the imbalance High 2920 today created by the recent push higher, moving from external to internal range liquidity.
Price is stalling around key levels despite maintaining a bullish structure.
The 50% retracement level of the latest daily swing sits below Friday’s low 2915
Shorts remain active but are at risk as bullish momentum continues within the range.
Our Next Steps
Manage existing shorts and monitor for signs of reversal or continuation.
Watch consolidation boundaries at 2940 highs and 2860 lows for breakout or reversal signals.
Observe price action leading into Monday for potential adjustments to the strategy.
Reflection Prompt
How can managing trades within a consolidation help refine entries and exits, especially when price action begins to stall?
#XAUUSD #Gold #TradingEdge #MarketAnalysis #PriceAction #Discipline #PipsnPaper
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.