Long

Gold 16.08 forming a double bottom

Updated

The greenback steadied near a 1-½ month high on Wednesday, having recovered sharply from 2023 lows over the past month.

Even if the Fed doesn’t raise interest rates further, it is still expected to keep them at over 20-year highs until at least mid-2024, presenting a weak outlook for non-yielding assets.

This inadvertently puts great pressure on gold, Let's expect the Fed to adjust and the upcoming meetings.

The 1D chart shows a double bottom forming, can set up buy in the price zone
GOLD 1890 - 1892 . SL 1882. TP 1905

What is your opinion? can let me know in the comment section, thanks.
* Let's win the market together*

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If Gold bounces off current levels, it could increase the likelihood of a potential reversal pattern forming.
Conversely, a break of $1,900 per ounce could imply a possibility for a continued decline towards $1,867 - $1,884.

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If the Fed does not adjust interest rates, there is a high possibility that gold will free fall to the 1880 region

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after the gold jobless claims report showed no signs of reversing, the downtrend is still continuing.

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🔥🔥🔥 Gold price hit a 5-month low, SPDR Gold Trust "shark" released nearly 7 tons of gold in 1 session 🔥🔥🔥 Looks like gold will fall even further

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Gold has touched the support zone, is it according to my plan? Stay tuned with Krado

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Dear everyone.
🔔 Gold news today 🔔
“Spot gold has fallen below the $1900 level, but momentum selling has slowed,” Ed Moya, analyst at online trading platform OANDA, said, noting that “gold traders are also fixating over the $1,900 level for gold futures.”
the possibility that gold will return to the support zone of 1900 ,to between the week after

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🔔 Gold news today 🔔
Gold prices fluctuated wildly through late May on Monday (August 21), as soaring bond yields weighed on gold, while investors awaited the Reserve's Jackson Hole Annual Meeting. Federal Reserve (Fed) later this week to know more about the interest rate roadmap.

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🔔 Gold news today 🔔
Gold prices bounce off 5-month lows despite continued downward pressure from the uptrend in US Treasury yields

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🔔Krado sees buying in the current price zone, but demand is limited as the technical indicators on the gold price chart are still tilted to the downside.🔔

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🔔If inflation remains high and demand shows no signs of slowing down, that will require tighter monetary policy. this could push gold back to 5-month lows again🔔

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🔔Gold has fallen in recent weeks on the back of many headwinds, from real yields to USD and the prospect of higher US interest rates in the longer term.🔔

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⚡️everything is going according to the plan that Krado has achieved, if you are profitable from Krado's signals, give Krado a like⚡️

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🔔 Gold news today 🔔
⚡️Rising interest rates have pushed up the opportunity cost of holding gold over the past year, limiting the yellow metal's gains.⚡️

Trade active

⚡️With each passing day, it became clear that Krado's plan was still waiting for everyone.⚡️

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⚡️Another modest speed increase may be required as the risk of the facility not doing enough in the fight against emissions is still higher.⚡️

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⚡️We have a good chance of achieving 2% inflation without damaging the real economy, the Fed says.⚡️

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⚡️The president of the world's most powerful central bank says the Fed will remain crucial in setting its target of re-targeting 2%. The fight is not over yet and the Fed "has a long way to go" to control inflation at the level the Fed wants.⚡️

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⚡️⚡️Make a plan for today everyone⚡️⚡️
⚡️Selling price is about 1920 - 1922
️ SL 1930
🌟TP 1 1910
🌟TP 2 1900
⚡️Win the market with Krado⚡️

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⚡️Final Report⚡️
⚡️Selling price is about 1920 - 1922 => 1916 + 70 pip
⚡️buy price is about 1917 - 1919 => 1930 +130pips
⚡️Selling price is about 1928 - 1930 => 1936 (SL) - 60pip
tatol profit + 110pips congrats everyone

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⚡️Gold Price (XAU/USD) struggles to gain around $1,935 during the early European session on Wednesday. The weaker US dollar and a sharp drop in US Treasury yields drags the Greenback lower across the board but gold did not retest but flew straight to the 1945 price area to scan liquidity , gold did not retest but flew straight to the 1945 price area to scan liquidity after news

Trade active

⚡️If everyone plays according to the daily plan, buying from 1890 is currently more than 500pips profitable

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⚡️Investors are now awaiting the release of the US NFP report before placing a bet in the new direction.

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⚡️China stimulus, sustained trading beyond the EMA confluence also favor XAU/USD bulls.
More data, risk catalysts eyed for clear directions of the Gold Price.

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⚡️A softer dollar also helped spur gains in copper, with the red metal benefiting from increased optimism over more stimulus measures in major importer China, as well as signs of some recovery in Chinese business activity.

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⚡️Everything is going according to my plan, the goal is not far away

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⚡️Bets that the Federal Reserve will pause its rate-hiking cycle should help limit the downside

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⚡️While the yellow metal recovered sharply from five-month lows over the past two weeks, it has struggled to make headway in recent sessions due to pressure from renewed strength in the dollar and yields.

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⚡️The actual PIM news is greater than the forecast, which is not a good outlook for gold

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⚡️The actual PMI news is greater than the forecast, which is not a good outlook for gold

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⚡️My plan was right

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⚡️Gold price gains some positive traction on Thursday, albeit lacks follow-through.

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Gold 07.09 prices moved little on Thursday, coming under pressure from strength in the dollar and Treasury yields as signs of sticky inflation pushed up concerns that the Federal Reserve will maintain its hawkish rhetoric.

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⚡️Data also showed some resilience in the U.S. economy, further sapping safe haven demand for the yellow metal amid growing bets that the country will avoid a recession this year.

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⚡️Trading still follows the trend line

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⚡️Short plan

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⚡️Worries about a global recession and worsening US-China relations will benefit the safe-haven metal

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⚡️Gold price attracts some buyers for the second successive day and draws support from a combination of factors.

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⚡️DXY's recovery pushed gold down the past few days

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⚡️The market becomes more active when the American session begins

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⚡️ Gold fell below 1920

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⚡️US yields are set to close a 2% weekly increase. Attention shifts to next week’s US CPI and Retail Sales from the US.

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⚡️Inflation, measured by the Consumer Price Index, or CPI, fell from a four-decade high of more than 9% per annum in June 2022 to as low as 3% in June this year

Trade active

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⚡️The US is facing the risk of second round inflation, leaving the Fed open to raising interest rates, putting further pressure on the exchange rate

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⚡️Challenging the 1900 round price resistance zone

Trade active

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⚡️Gold price trades around $1,920 a troy ounce during the early trading hours in the Asian session on Monday. The precious metal struggles to hold ground near the previous weekly close, experiencing minor support due to the retreating in the US Dollar (USD).

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⚡️XAU/USD failed to break above long-term trendline resistance and is currently hovering around the 1925.06 reversal bottom. The RSI indicator shows hesitation among traders without showing any specific trend. Upcoming data releases could fuel the trend with any move to support the USD likely causing gold prices to test resistance once again

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⚡️In this morning's trading session, the yellow metal has had a significant increase, can gold break the 1930 barrier?

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⚡️Everything is going according to plan

Krado_KO

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