GOLD → Realization continues, risks increase!
Updated
XAUUSD is at its highs. The price continues to rally and update the highs from the opening of the session on Monday. No selling, but buying should be cautious!Traders are waiting for the Fed officials to speak in the nearest future. The main issues are inflation, interest rate cuts and the US economy.
Optimism about Chinese stimulus, as well as ongoing tensions between Israel and Iran are supporting gold prices (In times of geopolitical turmoil, investors prefer to rush to traditional safe-haven gold prices)
With each passing day, the impact of the US election race is appearing more and more. The probability of a Trump victory is rising. Trump's fiscal and trade policies are seen as inflationary and positive for the US dollar
Resistance levels: 2736, 2750
Support levels: 2732, 2724, 2713
There is no news in the next few days, the fundamnetal background remains the same, so gold may continue to rise. The focus is on the nearest support zones for realization of purchases. At the moment the range 2736 - 2724 is formed
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With Respect R. Linda!
Trade active
The order was activated in the zone 2713-2715
Why couldn't a long position be opened in 2734 and 2724?
1) There is no proper reaction to this zone
2) Price does not form a reversal pattern or a false breakout, consolidation above the level and growth attempts with volume growth.
3) Price just pierces the levels to the key zone 2713, which was marked on the chart.
4) Regarding 2724, there was a retest and an attempt to get back into the bullish zone, but price tested this level as resistance after the breakout. It was acceptable to open positions if the price did a retest of the level after a false breakdown as support....
At the moment, 200 pips have passed from 2715 and it is possible to close part of the trade...
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NO‼️
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Join me, I'll guide you to PROFITABLE TRADING💵!
🟢Free Telegram Channel:
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🔴Contact:
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