XAUUSD: 2505-2500 resistance is not broken, boldly sell
Updated
The August NFP data released by the United States last Friday was 142,000, lower than the expected 160,000 and higher than the previous value of 89,000. At the same time, although the unemployment rate was in line with market expectations, it was actually the first decline in 5 months, which caused the gold price to rebound to 2529 and then fall to 2485.
From the daily chart, the K-line decline this time is very similar to the previous decline. If we calculate the next three trading days according to the previous rules, it will fluctuate in the range of 2470-2505. We can sell high and buy low during this period. And after 3 trading days, it happens to be the node when CPI is announced.
Therefore, from the perspective of trend and time, the probability of copying the previous market is also very high.
Now the gold price is close to the resistance of 2500-2505. I have mentioned the support and resistance of this range countless times before. Everyone knows its importance. Therefore, if nothing unexpected happens today, I will sell near this range.
From the daily chart, the K-line decline this time is very similar to the previous decline. If we calculate the next three trading days according to the previous rules, it will fluctuate in the range of 2470-2505. We can sell high and buy low during this period. And after 3 trading days, it happens to be the node when CPI is announced.
Therefore, from the perspective of trend and time, the probability of copying the previous market is also very high.
Now the gold price is close to the resistance of 2500-2505. I have mentioned the support and resistance of this range countless times before. Everyone knows its importance. Therefore, if nothing unexpected happens today, I will sell near this range.
Trade active
The price of gold has reached the resistance zone, now just wait for the declineTrade active
There is indeed strong resistance in the resistance range, and gold prices have now shown signs of stopping their rise and falling back.Trade active
The price of gold is continuing to fall. The price has reached 2495. Our Sell orders in the 2500-2505 range are beginning to expand profits.
If you want to get my thoughts on gold as soon as possible, welcome to join my channel
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
📣Free channel: t.me/Antony_TP
⚜️Copy Trading Contact me: t.me/AntonyTP
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.