Gold Spot / U.S. DollarUpdated GOLD /XAUUSD SHORT
🔰 Pair Name : XAU/USD
🔰 Time Frame : 1H/4H
🔰 Scale Type : SMALL Scale
🔰 Direction : SELL
📈 Gold Analysis for Today's Trading Session 📉
Hello Traders! 🌟
Yesterday's US JOLTS Job Openings data release had a notable impact on gold prices. 📊 The precious metal managed to cross the crucial Fibonacci Level of 50% despite facing some negative pressure. ⚖️
Today, our focus is on the potential price movements in the gold market. 🕵️♂️ It's quite likely that we might witness a corrective move downwards, aimed at tapping into the liquidity below. This move could potentially be a strategic attempt to refill approximately 50% of the market imbalance. ⚙️
However, keep a close watch on the upcoming ADP employment data release scheduled for later today. 📆 This data could play a pivotal role in influencing gold's trajectory. Depending on the ADP data's impact, we might observe gold extending its downward movement. 📉 It could either retest the Fibonacci Level of 38.2% for a strong support test, or in a more bearish scenario, head straight towards the prominent Fibonacci Level of 61.8%. 📉📊
As always, it's essential to trade cautiously and manage your risk effectively. 🛡️ Market movements can be unpredictable, and staying informed about fundamental data releases is crucial for making informed trading decisions. 📈📊
Best of luck on your trades! 🍀📊📈
(Note: This analysis is for informational purposes only and should not be considered financial advice.) 💼🔍📊
🔰 Time Frame : 1H/4H
🔰 Scale Type : SMALL Scale
🔰 Direction : SELL
📈 Gold Analysis for Today's Trading Session 📉
Hello Traders! 🌟
Yesterday's US JOLTS Job Openings data release had a notable impact on gold prices. 📊 The precious metal managed to cross the crucial Fibonacci Level of 50% despite facing some negative pressure. ⚖️
Today, our focus is on the potential price movements in the gold market. 🕵️♂️ It's quite likely that we might witness a corrective move downwards, aimed at tapping into the liquidity below. This move could potentially be a strategic attempt to refill approximately 50% of the market imbalance. ⚙️
However, keep a close watch on the upcoming ADP employment data release scheduled for later today. 📆 This data could play a pivotal role in influencing gold's trajectory. Depending on the ADP data's impact, we might observe gold extending its downward movement. 📉 It could either retest the Fibonacci Level of 38.2% for a strong support test, or in a more bearish scenario, head straight towards the prominent Fibonacci Level of 61.8%. 📉📊
As always, it's essential to trade cautiously and manage your risk effectively. 🛡️ Market movements can be unpredictable, and staying informed about fundamental data releases is crucial for making informed trading decisions. 📈📊
Best of luck on your trades! 🍀📊📈
(Note: This analysis is for informational purposes only and should not be considered financial advice.) 💼🔍📊
Trade active
Order cancelled
Note
Note
We have decided to hold off on selling Gold at this time, primarily in response to the ongoing price action. Our analysis indicates a favorable upward potential, especially within the context of the significant downtrend channel. Notably, our attention is drawn to the allocation on the 61.8% Fibonacci retracement level, which presents an intriguing opportunity before any potential downside movement. 📈💰🚀 Stay vigilant and keep an eye on these developments!Trade active
we are buying to 1946 before any sellTrade active
Trade closed: target reached
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