GOLD → Trading strategy for 500 Pips
Hello dear traders, let's discuss and plan our gold trading strategy for today together!
Currently, gold is trading around $2913 and performing well within the 1-hour upward channel.
The main reason for this price increase is market sentiment, as Trump's tariff policies could potentially trigger a trade war. Additionally, the cryptocurrency market is in crisis, causing investors to seek safe-haven assets like gold. Furthermore, strong gold buying pressure from Asian countries at the start of the year is also driving demand.
As shown on the 1-hour chart, gold remains above the EMA 34, 89 lines, confirming a strong bullish trend. Despite positive CPI data for currencies, gold's strong recovery signals that buying pressure has returned.
In the short term, we continue to prioritize buy-on-dip strategies :)
BUY zones to watch:
2875 - 2880
2850 - 2855
2830 - 2835
Currently, gold is trading around $2913 and performing well within the 1-hour upward channel.
The main reason for this price increase is market sentiment, as Trump's tariff policies could potentially trigger a trade war. Additionally, the cryptocurrency market is in crisis, causing investors to seek safe-haven assets like gold. Furthermore, strong gold buying pressure from Asian countries at the start of the year is also driving demand.
As shown on the 1-hour chart, gold remains above the EMA 34, 89 lines, confirming a strong bullish trend. Despite positive CPI data for currencies, gold's strong recovery signals that buying pressure has returned.
In the short term, we continue to prioritize buy-on-dip strategies :)
BUY zones to watch:
2875 - 2880
2850 - 2855
2830 - 2835
Trade closed: target reached
Note
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.