THE GOLDEN HOPE
An act in good faith that no new record highs are to be recorded this month nor the next.
Despite a box formation on M15 which signals a possible exit to the top of the horizontal blue range,I strongly believe that the current H4 range will hold until the expected next interest rates discussion/decision on Sep 4th.
However: Please be advised that XAU/USD is a very complex pair to trade and violates many analysis and trade theories of traders across the globe.Which is why it is deemed a high risk pair to trade and most traders scalp it instead.
A sell position after 15:15 South African time would be ideal,provided that the CPI release drop gold prices lower and favored the dollar. a trade before the CPI release is an unnecessary risk for me... ,for trading gold is a high risk on its own.
Do trade with caution and use proper risk management.
Despite a box formation on M15 which signals a possible exit to the top of the horizontal blue range,I strongly believe that the current H4 range will hold until the expected next interest rates discussion/decision on Sep 4th.
However: Please be advised that XAU/USD is a very complex pair to trade and violates many analysis and trade theories of traders across the globe.Which is why it is deemed a high risk pair to trade and most traders scalp it instead.
A sell position after 15:15 South African time would be ideal,provided that the CPI release drop gold prices lower and favored the dollar. a trade before the CPI release is an unnecessary risk for me... ,for trading gold is a high risk on its own.
Do trade with caution and use proper risk management.
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.