GOLD-During the weekend trading session, gold temporarily rested
Updated
⚡️Market news
Gold prices traded firmer on Friday, as policy support measures and strong Chinese business activity data boosted market sentiment and weighed on safe-haven demand for the currency. US Dollar, limiting the currency's recent gains.
The People's Bank of China (PBOC) has lowered the Reserve Requirement Ratio (RRR) and the bank's 14-day Reverse Repo rate, in an effort to stimulate declining economic performance while Retail Sales and The country's industrial production increased more than expected in August.
⚡️Optimus's point of view
For gold to clearly show recovery after a series of days of unending decline, gold needs to close the weekly candle above the 1920 price range.
After the PPI news, there were positive signals for the dollar, gold also fell to 1900. Because this is too strong a support zone, gold recovered to 191x in today's Asian session.
⚡️Plan trading
SELL GOLD: 1919-1921
SL: 1927
TP: 1910
BUY GOLD: 1907-1909
SL: 1900
TP: 1920
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Gold prices traded firmer on Friday, as policy support measures and strong Chinese business activity data boosted market sentiment and weighed on safe-haven demand for the currency. US Dollar, limiting the currency's recent gains.
The People's Bank of China (PBOC) has lowered the Reserve Requirement Ratio (RRR) and the bank's 14-day Reverse Repo rate, in an effort to stimulate declining economic performance while Retail Sales and The country's industrial production increased more than expected in August.
⚡️Optimus's point of view
For gold to clearly show recovery after a series of days of unending decline, gold needs to close the weekly candle above the 1920 price range.
After the PPI news, there were positive signals for the dollar, gold also fell to 1900. Because this is too strong a support zone, gold recovered to 191x in today's Asian session.
⚡️Plan trading
SELL GOLD: 1919-1921
SL: 1927
TP: 1910
BUY GOLD: 1907-1909
SL: 1900
TP: 1920
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Trade closed: target reached
Plan sell 1919-1921 won 40 pips, congratulations everyoneNote
Gold has skyrocketed to the 1929 price range and is gradually reaching the price range where we have established the daily plan. You can follow our latest posts so you don't miss out on the strategiesTrade closed: stop reached
The strategy is no longer suitable for the current gold situation, the price has broken out of the 1920 price range. The next strategy is to find gold in strong support areas to buy gold. Please update Optimus's latest strategyNote
Note
The gold strategy is still ongoing, I just sent you a trading article talking about the next trend of goldNote
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