Hello traders,
Important news just in – the GDP news from the USA was worse than expected. Let's analyze how this might influence the gold market.
Trading Opportunity:
Considering the GDP surprise, there could be a positive impact on gold.
Two potential entries are identified around 2033 and 2031.
Risk Management:
Set a stop loss (SL) at approximately 2026 to manage potential downside risks.
Take Profits (TPs):
Two take profit (TP) levels are strategically placed around 2041 and at the top of the channel.
Market reactions to economic news can be dynamic, so stay vigilant and adapt your strategy as needed. Best of luck with your trades!