XAU correction DOWN - opportunity for $2400⭐️ Smart investment, Strong finance
⭐️ GOLDEN INFORMATION:
The US Dollar (USD) strengthens after a recent decline, mainly due to the drop in the Euro currency. This is putting pressure on commodities. Profit-taking and geopolitical tensions may contribute to the downfall of precious metals, but central bank demand should provide some support.
⭐️ Personal comments NOVA:
The FOMO from the market has gradually cooled down after much information that the FED will accelerate the process of cutting interest rates by 0.25%. indispensable for stability for the Gold market
⭐️ SET UP GOLD PRICE:
🔥BUY GOLD zone: $2400 - $2398 SL $2393
TP1: $2408
TP2: $2415
TP3: $2430
🔥BUY GOLD zone: $2415 - $2417 SL $2412 scalping
TP1: $2422
TP2: $2428
TP3: $2435
🔥SELL GOLD zone: $2465 - $2467 SL $2472
TP1: $2455
TP2: $2440
TP3: $2430
⭐️ Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️ NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Goldselll
GOLD [XAU/USD] Sell Structure for the Month of MayAnalysis of Gold Price Movement in May 2024
For the daily timeframe in May 2024, Gold has opened at a high level, indicating potential seller activity. The initial target for price movement is the open price of 2321.07 , serving as the primary take-profit point for the monthly structure. Utilizing Fibonacci analysis, the first take-profit level is identified at 2339.56 , followed by the open price of 2321.07 .
Key rules to follow when trading this structure include:
1. Market Structure (OHLC/OLHC)
2. Divergence
3. TDI Cross
When these conditions align, the likelihood of a successful trade increases. Remember to practice patience and apply proper risk management techniques.
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Gold 1919-1920 short, short-term followed
There are a thousand kinds of waiting in this world, but the best one is called the coming day, and I am willing to stand here and count down from this second, waiting for the encounter in many years. Life is just to come to the world to taste sweet and sour, bitter and spicy, and then leave with all the happiness and sadness! All we can do is not disappoint ourselves!
Gold, yesterday retraced again, and broke the 20 line, closed in the pattern pattern of the mid-black line, then this week even the negative retracement, the daily line has broken the support of the short-term moving average, but also broke the previous support point 20 line, this action is also likely to directly illustrate that the short-term bears still have a continuation, and the current gold continues to maintain below 20 finishing, then the European market before you can directly short wait, and the support below will continue to move down around 1900, at the same time, From the multi-hour line can be seen that the short-term downward trend is more obvious, are after a certain shock after the secondary downward momentum, and the current short-term support below the daily line will also pin on the support of the medium-term moving average, the weekly system suppression perfect, the short-term average has broken, the 10-day moving average will also do the final struggle, and in the continuous retracement of the market, the trend of the European market is more important, once the European market breaks, the US market can continue to short, on the contrary, the European market is relatively strong, The probability of the U.S. market continuing to fall is not large, then intraday gold we still follow the market for short order layout, then directly short around 19-20, the target is around 05-00, loss 26.5.
XAUUSD:Trading straregy
Through the analysis of the golden hour chart, we know that the market rebound was unable to rise and fall, and once reached the 1951 line to stop falling and rebound. At present, it is still in the process of rebounding slightly. From the perspective of the overall trend, it was affected by the data in the evening and fell below the support level of the 1969 line.
However, we can see from the attached picture above that the main force of the bulls showed a Jedi counterattack signal for the first time and the rebound was weak. The overall performance failed. The Jedi counterattack signal appeared again last night, indicating that the bulls have a strong willingness to rebound. It has become a pressure. In the short term, we will continue to operate at high altitudes and low multiples. The specific suggestions are as follows:
Gold:sell@1965-1970 tp1 1955 tp2 1945
buy@1945-1950 tp1 1960 tp2 1965
The timing of entry will be notified later, please stay tuned!
Gold Losing Momentum on Daily!Gold has broken the weekly support around 1907.94 support area that has became a new weekly resistance. Now it touches the new weekly resistance once again and gets a rejection candle. This will likely create a new downtrend movement for gold as it losses it momentum after a daily consolidation structure. Timing of entries should be confirmed before entering this trade. tyor# dyor#