#XAUUSD H1
As expected, we had already warned everyone that once the H1 candle closed above 2385, it would likely move up to the 2406 area. True to our analysis, the market followed this path, with the CPI data further favoring gold. Yesterday, we also mentioned that the CPI and unemployment data were fully positive for gold and advised against selling after the news. The market responded as anticipated, showing a small retracement before reaching a high of nearly 2425.
Now, the price is facing significant rejection from the daily supply zone, suggesting a potential pullback to the 2380-2378 area. This pullback would present a great opportunity for larger targets. I know many traders are stuck in sell positions, so my advice is to always use proper stop-losses and avoid trading without them, as it's detrimental to your trading account. Those in sell positions might get a final chance to exit around the 2375-2382 level.
For a breakout buy, wait for an H4 bullish candle to close above the 2425 level.
As expected, we had already warned everyone that once the H1 candle closed above 2385, it would likely move up to the 2406 area. True to our analysis, the market followed this path, with the CPI data further favoring gold. Yesterday, we also mentioned that the CPI and unemployment data were fully positive for gold and advised against selling after the news. The market responded as anticipated, showing a small retracement before reaching a high of nearly 2425.
Now, the price is facing significant rejection from the daily supply zone, suggesting a potential pullback to the 2380-2378 area. This pullback would present a great opportunity for larger targets. I know many traders are stuck in sell positions, so my advice is to always use proper stop-losses and avoid trading without them, as it's detrimental to your trading account. Those in sell positions might get a final chance to exit around the 2375-2382 level.
For a breakout buy, wait for an H4 bullish candle to close above the 2425 level.
Trade closed: target reached
We anticipated a deeper pullback to the 2385 level, but the market retraced only to 2392 before moving upwards. Around 2402, we suggested a risky buy to our community members, which moved up to 100 pips. However, being Friday, we advised safer traders to avoid this trade. If we get an H4 closing above the 2420-2425 level, there is a chance of reaching a new lifetime high.
Mr K
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Mr K
Join Our Free Telegram Group
t.me/MrKCharts
If You Need Personalized SIgnals Specilaized With 2:1 RR for Propfirm Than Dm Us At t.me/Kseljuk
Join Our Free Telegram Group
t.me/MrKCharts
If You Need Personalized SIgnals Specilaized With 2:1 RR for Propfirm Than Dm Us At t.me/Kseljuk
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.