👑 Ideas For #XAUUSD / #GOLD
📈 Change of Mood (local). Correction phase
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GOLD is forming a local consolidation with gradually declining highs under pressure from the SMA 200 & 50 after breaking trend support. The dollar is forming a counter-trend correction at this time.
It is still unclear whether the decline in gold prices will continue as traders await Friday's NFP data.
Today, traders are expecting the release of the PMI index at 13:45 - 14:00 GMT.
A negative surprise from the PMI or a larger than expected slowdown in the index could revive hopes for a significant Fed rate cut. But attention should be paid to the actual data.
Technically, trading is inside the 2504 (2510) - 2493 range. The wider range is 2526 - 2477. There are no reasons to exit this range, so we consider trading inside the boundaries.
Resistance levels: 2504, 2510, SMA
Support levels: 2493, 2477
The price is testing strong resistance, a rebound and another retest of 2493 may follow, with the possibility of a breakout and decline, but it is necessary to follow the economic news, as a favorable tone may attract additional support and interest in the metal
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#GOLD Sell📉 at 2500
StopLoss❗️: 2504
Scalp trading:
Take Profit 1️⃣: at 2495
Standart trading:
Take Profit 2️⃣: at 2486
Swing trading:
Take Profit 3️⃣: at 2468
#GOLD Sell📉 at 2499
StopLoss❗️: 2503
Scalp trading:
Take Profit 1️⃣: at 2495
Standart trading:
Take Profit 2️⃣: at 2486
Swing trading:
Take Profit 3️⃣: at 2468
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#GOLD Buy📈 at 2506
StopLoss❗️: 2502
Scalp trading:
Take Profit 1️⃣: at 2510
Standart trading:
Take Profit 2️⃣: at 2520
Swing trading:
Take Profit 3️⃣: at 2538
#GOLD Sell📉 at 2500
StopLoss❗️: 2504
Scalp trading:
Take Profit 1️⃣: at 2495
Standart trading:
Take Profit 2️⃣: at 2486
Swing trading:
Take Profit 3️⃣: at 2468
👑 Ideas For #XAUUSD / #GOLD
📈 Change of Mood (local). Correction phase
———————————————
GOLD is breaking the structure of the ascending channel amid the counter-trend correction of the dollar (fundamental reasons). Price closes in the range of 2526 - 2477, what could this mean?
On D1, the market is bullish both locally and globally. But, fundamentally and geopolitically the situation is slightly changing, which favorably affects the dollar exchange rate, against which gold goes into a local phase of correction. There is low liquidity in the market today due to the closed US market.
On H1, the focus is on the resistance 2505 - 2510, sma. False breakdown and price consolidation below these zones will confirm the absence of bullish potential, which may lead to price correction towards the lower boundary of the key range.
Support levels: 2483 (D1), 2493, 2477
Resistance levels: 2505, 2510, sma
The focus is on the global range 2526 - 2477, the price continues to trade inside and does not hint at a possible exit from this channel, accordingly, it is best to use the inturidian trading strategy. The main target is liquidity below the key support zones
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Читать полностью…#GOLD Buy📈 at 2516
StopLoss❗️: 2512
Scalp trading:
Take Profit 1️⃣: at 2520
Standart trading:
Take Profit 2️⃣: at 2536
Swing trading:
Take Profit 3️⃣: at 2553
#GOLD Buy📈 at 2519
StopLoss❗️: 2515
Scalp trading:
Take Profit 1️⃣: at 2523
Standart trading:
Take Profit 2️⃣: at 2536
Swing trading:
Take Profit 3️⃣: at 2553