Toptrader
XAUUSD Cautious BuyAlthough the price of gold is affected by the change in interest rates and caused to fall, I think the price will fluctuate in the range of $1640-1672, I will try to buy at $1745-1748 with a stop loss set at $1735-1738. Short term trading should not be greedy and always be ready to leave the market.
Also I support my view with a broader time period chart where the gray area is where price is potentially staying.
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XAUUSD 4H Price RangeThe price failed to hold above $1728 and currently, the $1680-1728 price level is a potential move zone.
Judging from the broader range its higher price range accumulates numerous bearish chips and price recovery looks particularly difficult.
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Earlier analysis
Cadjpybased on my prediction jpy currency will getting stronger while usd will getting weaker..hence can short cadjpy for 2-4weeks in order to get big catch 500pips with a very excellent Risk Reward Ratio 1:10..remember trading is about probability + calculated risk..if your accuracy is 60% combine with great RR you can grow your account exponentially..goodluck!!
XAUUSD price will be volatileThe green price range is a demand area and there should be a certain amount of short positions that will be closed to drive the price rally. I think the price level of $1715-1725 is attractive to me to establish long positions to earn profits due to price swings.
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