XAUUSD Gold Chart Analysis 31/3/2025

After creating a bottom wick below, the candle kept rising from the low of 3,076,98 to a high of 3,027.91 before a candle pullback and it is now consolidating without any signs of breaking out further yet, though it could be soon. But before breaking out any further, maybe it would have to crash down, clearing buy volumes from FOMO, whether it would or would not clear is still a mystery but we'll have to be ready for when it does crash down to clear buy volumes from the market so that we'll be able to go with the flow in the market when the price start ascending again.

The 4 hour candle shows that the price wasn't able to create a successful reversal after reaching a new high before pulling back to close as a doji, then the next candle open trying to push for a new high but was unable to do so as there may still be quite a number of uncleared buy volumes in the market, which then makes the price dropped down clearing a number of volumes before pulling back and still closing as a doji. The latest candle has also tried pushing for a new high but was also unable to surpass the previous high before pulling back which means it may still have to do a more thorough clearing before it'll be able to rise to a new high again. Now wait for the chart to crash, clearing buy volumes before we'll start entering a trade, but if it doesn't crash and rise further, we also wait for it to stop breaking out and enter a trade when it clears buy volumes later. Because my cardinal rules are never follow buy, never follow sell, never buy at support and never sell at resistance, because price never creates a reversal at support and resistance.