XAUUSD - The downtrend is unclear, are the bulls really weak?
Updated
⚡️Market news
Gold prices were negatively affected by strong economic data in August despite the previous decline in the labor market.
Gold held firm despite Wednesday's data on strong U.S. consumer inflation, as markets bet the Federal Reserve will keep interest rates unchanged next week.
But whether gold prices can still hold $1,900 an ounce remains in question, as U.S. interest rates are likely to remain higher for longer. The dollar also remained steady below a nearly six-month high, limiting any major gains in gold.
⚡️Optimus's point of view
Gold is likely to find its way to the 1920 resistance zone in tonight's trading session after the PPI news was announced. If the momentum of gold is not strong, it is possible that the 1911-1913 zone is the necessary resistance zone to keep the gold price stable around 2000.
⚡️Plan trading
SELL GOLD: 1919-1921
SL 1927
TP 1915
TP 1910
The next trading plans will be continuously updated in the comments section
⚡️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 were negatively affected by strong economic data in August despite the previous decline in the labor market.
Gold held firm despite Wednesday's data on strong U.S. consumer inflation, as markets bet the Federal Reserve will keep interest rates unchanged next week.
But whether gold prices can still hold $1,900 an ounce remains in question, as U.S. interest rates are likely to remain higher for longer. The dollar also remained steady below a nearly six-month high, limiting any major gains in gold.
⚡️Optimus's point of view
Gold is likely to find its way to the 1920 resistance zone in tonight's trading session after the PPI news was announced. If the momentum of gold is not strong, it is possible that the 1911-1913 zone is the necessary resistance zone to keep the gold price stable around 2000.
⚡️Plan trading
SELL GOLD: 1919-1921
SL 1927
TP 1915
TP 1910
The next trading plans will be continuously updated in the comments section
⚡️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
Note
Scalping signalSell gold 1910-1912
SL 1917
TP 1905 1900
Trade closed: target reached
+ 50 pips so fasconocongratulation everyoneNote
Gold is currently building upon its previous recovery, aiming for the level of $1,920, as it moves away from its three-week low of $1,901 set on Thursday. With no longer having data on US retail sales and inflation, gold investors will be looking for preliminary UoM consumer sentiment data along with their weekend trading flowsTrade active
Plan SELL 1919 has been activated. running + 20 pipsTrade closed: target reached
Plan SELL 1919 + 40 pipsNote
⚡️Gold has approached the strong resistance zone, you can set up a SELL order around the 1929-1931 price range. Stoploss 1935. Have a nice weekendTrade closed: target reached
Update the latest gold trading strategy. Gold prices have decreased from 1930 to 1923, traders have taken profits according to the Sell strategy that Optimus has updated. Wishing all traders a weekend full of joy and happinessTrade active
Gold extends gains to $1,920, focused on US economic dataGold prices continued to rise during Friday's trading session, trading nearly $1,920 per troy ounce higher during the first hour of trading on Friday's European session. This pair is receiving upward support, possibly due to a slight correction in the USD.
Note
According to Optimus's opinion, the trading session next Monday will be dominated by bearsTrade active
Note
Gold prices have garnered some buying interest for the third consecutive day on Monday and are gradually edging higher towards the $1930 resistance level in Asian trading. XAU/USD is currently attempting to build upon its recent strong recovery from the $1900 mark.Short-term trading strategy
SELL GOLD zone 1930-1932
SL 1935
TP 1925
TP 1920
Note
U.S. Treasury yields rose slightly as markets predicted the Fed would maintain its restrictive policy for longer. Therefore, the potential increase in gold prices may come under pressure before the Fed's decision.That is the reason why gold price increased to 1932 in today's Asian trading session
Note
Gold faces the next hurdle at $1945The price of gold declined on Tuesday, alongside open interest and a decrease in volume, indicating that a deeper pullback may not be favored at the current stage.
Gold retreated from its highest level in two weeks at $1,937, touching near $1,930 early Wednesday when buyers eagerly awaited the Federal Reserve's interest rate decision to continue the recent uptrend.
Trade active
1948-1950 is the area where OP predicted gold would find in the worst case scenario. It is possible that gold will stop increasing at 1948 and form a long decreasing chain as in my analysisNote
If this analysis is correct, gold will soon find its way back to 1905 this weekNote
If gold finds 1904 today, OP's analysis is correct. continuing the downtrend according to analysis. If you see a reputable strategy, please give OP a FollowNote
what do you think about my strategyTrade closed: target reached
Note
+ 800 pips for this strategy
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