Mid-Week Trade Plan โ September 25, 2024
๐ XAUUSD Mid-Week Trade Plan โ September 25, 2024
๐จ Price Update:
๐ Gold prices hit a new high, surging to $2,670.00 ๐๐ฐ due to rate cut talks and Middle East tensions.
๐ Market News Update:
Mid-Week Trade
๐ Buy Entry 1: $2,626.18 - $2634.48
๐$2,640.18 โ Buy Stop Entry if initial is a miss
๐ Buy Entry 2: $2,586.54 -$2594.22
๐$2,600.67 โ Buy Stop Entry if initial is a miss
๐ Sell Scenario:
While the trend remains bullish, only highly experienced traders should consider a sell position in this market. Look for a strong rejection of resistance at $2,670.50 or $2,700.23 for short opportunities. News Update Tomorrow, could provide better Sell opportunities, if News favours USD
As always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.
๐จ Price Update:
๐ Gold prices hit a new high, surging to $2,670.00 ๐๐ฐ due to rate cut talks and Middle East tensions.
๐ Market News Update:
- ๐ US consumer confidence dropped, leading to lower Treasury yields and a weaker dollar.
- ๐จ๐ณ Chinaโs stimulus boosted global markets, driving up metals and mining stocks ๐๐ผ in Europe and the US.
Mid-Week Trade
๐ Buy Entry 1: $2,626.18 - $2634.48
- ๐ฏ TP 1: $2,680.00
- ๐ฏ TP 2: $2,700.23
- ๐ฏTP 3: Leave portion of trade open
- ๐ SL 1: $2,616.00 โ Just below the next key support, minimizing downside risk
๐$2,640.18 โ Buy Stop Entry if initial is a miss
๐ Buy Entry 2: $2,586.54 -$2594.22
- ๐ฏ TP 1: $2,640.18
- ๐ฏ TP 2: $2,680.00
- ๐ฏTP 3: Leave portion of trade open
- ๐ SL 2: $2,574.42 โ Protecting the entry against further drops, placed below the support zone.
๐$2,600.67 โ Buy Stop Entry if initial is a miss
๐ Sell Scenario:
While the trend remains bullish, only highly experienced traders should consider a sell position in this market. Look for a strong rejection of resistance at $2,670.50 or $2,700.23 for short opportunities. News Update Tomorrow, could provide better Sell opportunities, if News favours USD
As always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.
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.
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.