XAUUSD | New perspective | follow-up details
Updated
Gold tumbles from the previous session’s record high of above $2,080 to clings at the key level at $2,000 as data from the US Labor Department on Friday suggests no pausing of rate hikes in June. As market participants settle down to digest the latest development in the market, close attention will be on the consumer price index data for April and May ahead of the next Federal Open Market Committee meeting. Aside from inflation, participants are also nervous about the resurfacing of a US banking crisis - a dent in the US banking sector. In this video, we dissected the current market structure from a technical standpoint to identify potential trading opportunities ahead of the new week.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Note
A simple setup is identified on the 1H timeframe as the week has started on a bullish note.Good morning
Trade active
Price action takes out the buy position as price action remains choppy. Patience is highly required at this juncture in the marketNote
Selling pressure continues as buyers find it difficult to break the new resistance line at the 2,029.50 level.Good morning
Trade active
Fallout from our live session; secure the buy position nowTrade active
UPDATETrade active
80pips in profit; secure the buy position. Update coming up soonTrade active
UPDATETrade closed manually
Price action takes out the buy position with a small profit size as trading activities return to the entry zone just above the trendline. Note that the trendline continue to serve as our yardstick for trading activities today.Goopd MOrning
Trade active
Secure buy position as the option of selling opportunities below the 2,090.50 level is very much open. 1 hour into the CPI dataTrade active
The market returns to normalcy following the volatile trading activities following the CPI data yesterday. The price is back within the range where the week started. The bearish trendline remains our trading guide for today.Good morning
Trade active
Secure buy position as price action takes out the sell position at break even. Looking forward to more opportunities to buy at the breakout/retest of the 2,035 zone. Selling option still remains valid at the breakdown/retest of the 2,025 level.Trade active
Sell-stop triggered as price action takes out the buy position. secure position as we look out for more opportunities.Trade active
Secure sell positions as selling pressure continues
Trade smart. Trade consciously
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