Gold news:
🔆Gold prices hovered below a record high of $2,956 during the Asian session. The rally continued as the dollar weakened and US Treasury yields fell 0.43%. At the time of writing, XAU/USD was trading at $2,948.6.
🔆Gold prices have been rising for the past eight weeks, driven by the largest net inflows into gold-backed ETFs since 2022
🔆While XAU/USD is likely to hold at all-time highs, it appears that buyers have been hesitant to push prices higher, with price action showing signs of losing momentum.
🔆Technically, the daily RSI indicator is showing a divergence that could signal a pullback. However, the RSI is still in overbought territory, so further consideration is warranted.
Personal opinion:
🔆Gold will have a period of decline to accumulate and then continue the main uptrend.
🔆Note: in case of new news about Trump's tariff policy or war fluctuations, we will consider first.
Technical analysis:
🔆Based on important resistance - support levels and Fibonacci levels combined with EMA indicators to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 2917 – 2920
❌SL: 2912 | ✅TP: 2925– 2930 – 2940
👉Buy Gold 2938 – 2940(Scalping)
❌SL: 2933 | ✅TP: 2945– 2950 – 2955
👉Sell Gold 2970 – 2972
❌SL: 2977| ✅TP: 2965– 2960 – 2950
FM wishes you a successful trading day 💰💰💰
🔆Gold prices hovered below a record high of $2,956 during the Asian session. The rally continued as the dollar weakened and US Treasury yields fell 0.43%. At the time of writing, XAU/USD was trading at $2,948.6.
🔆Gold prices have been rising for the past eight weeks, driven by the largest net inflows into gold-backed ETFs since 2022
🔆While XAU/USD is likely to hold at all-time highs, it appears that buyers have been hesitant to push prices higher, with price action showing signs of losing momentum.
🔆Technically, the daily RSI indicator is showing a divergence that could signal a pullback. However, the RSI is still in overbought territory, so further consideration is warranted.
Personal opinion:
🔆Gold will have a period of decline to accumulate and then continue the main uptrend.
🔆Note: in case of new news about Trump's tariff policy or war fluctuations, we will consider first.
Technical analysis:
🔆Based on important resistance - support levels and Fibonacci levels combined with EMA indicators to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy Gold 2917 – 2920
❌SL: 2912 | ✅TP: 2925– 2930 – 2940
👉Buy Gold 2938 – 2940(Scalping)
❌SL: 2933 | ✅TP: 2945– 2950 – 2955
👉Sell Gold 2970 – 2972
❌SL: 2977| ✅TP: 2965– 2960 – 2950
FM wishes you a successful trading day 💰💰💰
Trade active
Double top pattern in 5 min time frame,Plan:
Sell 2939 -2942
SL: 2945
TP: 2935 - 2930- 2920
Trade closed: target reached
HIt +170 pips, Great sellProfit for those who follow FM's plan
Congratulations
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
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Channel: signals - knowledge and FOREX comments
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.