0121 GOLD will rally up to last top?
Hello traders,
On January 21, 2025, Trump's First Day in Office: Logical and Technical Analysis
Trump has finally been sworn in as the 47th President of the United States.
Trump served as President from January 2017 to January 2021. During this period, the price of gold generally rose:
- At the beginning of 2017, the price of gold was about $1,200 per ounce.
- By August 2020, the price of gold reached a historic high, exceeding $2,000 per ounce.
- In January 2021, when Trump left office, the price of gold was around $1,850 per ounce.
From the data, it can be seen that the price of gold did not experience a long-term decline during Trump's presidency; instead, it saw significant increases.
Therefore, from the price trend perspective, Trump may be considered a blessing for gold.
However, in the early days of Trump's presidency, if the U.S. economy performed strongly and the stock market continued to rise, it could have weakened gold's appeal. His policies were once believed to favor a strong dollar, which typically negatively impacts gold.
**[Gold]**
Last Friday, the following was noted: "Trading plan from Friday to next Monday, considering that gold has currently reached a potential triple top bearish resistance area, and this upward wave has completed a five-wave structure.
On the four-hour chart, Friday's Asian session ended with three consecutive bearish candlesticks. New short positions can be considered after the U.S. session until the Asian session next week, looking for a one-hour bearish signal to enter.
TP1: 2683
TP2: 2670
TP3: 2656"
Monday is a U.S. holiday + President Trump's inauguration, and gold currently remains in a flat position without entering.
On the daily chart, gold is still stabilizing above the daily EMA, with no reasons to be bearish.
However, on the four-hour chart, the resistance level that gold has touched for the third time requires us to wait for specific signals during the European and American sessions to determine whether this level will break and continue to rise, or if it will break and then pull back before continuing upward.
Therefore, the trading plan for gold on Tuesday is to continue buying along the daily direction, but we need to consider that there might be a correction first.
The initial target for the pullback is the EMA support level on the four-hour chart, around the 2709 range, waiting for a new one-hour entry signal to buy after the U.S. session opens.
TP1: 2756
TP2: 2770
TP3: 2790
GOOD LUCK!
LESS IS MORE!
On January 21, 2025, Trump's First Day in Office: Logical and Technical Analysis
Trump has finally been sworn in as the 47th President of the United States.
Trump served as President from January 2017 to January 2021. During this period, the price of gold generally rose:
- At the beginning of 2017, the price of gold was about $1,200 per ounce.
- By August 2020, the price of gold reached a historic high, exceeding $2,000 per ounce.
- In January 2021, when Trump left office, the price of gold was around $1,850 per ounce.
From the data, it can be seen that the price of gold did not experience a long-term decline during Trump's presidency; instead, it saw significant increases.
Therefore, from the price trend perspective, Trump may be considered a blessing for gold.
However, in the early days of Trump's presidency, if the U.S. economy performed strongly and the stock market continued to rise, it could have weakened gold's appeal. His policies were once believed to favor a strong dollar, which typically negatively impacts gold.
**[Gold]**
Last Friday, the following was noted: "Trading plan from Friday to next Monday, considering that gold has currently reached a potential triple top bearish resistance area, and this upward wave has completed a five-wave structure.
On the four-hour chart, Friday's Asian session ended with three consecutive bearish candlesticks. New short positions can be considered after the U.S. session until the Asian session next week, looking for a one-hour bearish signal to enter.
TP1: 2683
TP2: 2670
TP3: 2656"
Monday is a U.S. holiday + President Trump's inauguration, and gold currently remains in a flat position without entering.
On the daily chart, gold is still stabilizing above the daily EMA, with no reasons to be bearish.
However, on the four-hour chart, the resistance level that gold has touched for the third time requires us to wait for specific signals during the European and American sessions to determine whether this level will break and continue to rise, or if it will break and then pull back before continuing upward.
Therefore, the trading plan for gold on Tuesday is to continue buying along the daily direction, but we need to consider that there might be a correction first.
The initial target for the pullback is the EMA support level on the four-hour chart, around the 2709 range, waiting for a new one-hour entry signal to buy after the U.S. session opens.
TP1: 2756
TP2: 2770
TP3: 2790
GOOD LUCK!
LESS IS MORE!
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Wechat: ziyuvera
Tele: t.me/VeraFuntrader
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