Gold Trading Strategy on M15 (January 17, 2025)
Preliminary Trading Plan:
Market Summary:
Gold prices are consolidating around $2,790, with potential for short-term corrections despite positive GDP and industrial data from China. However, concerns about China's real estate market and US tariff policies are dampening expectations. Anticipation of Fed rate cuts and weak US data are supporting gold prices, while investors await US housing and industrial production reports for further signals.
Technical Support:
Following two volatile days driven by news events, gold has rebounded above $2,700 and maintains an upward trajectory. However, it has yet to breach the $2,620 - $2,624 range. The market appears to be cooling compared to the previous days, as indicated by today's trading sessions. Key support levels for capturing the market's uptrend include $2,700 - $2,702 and $2,680 - $2,678.
Trading Zones:
XAUUSD BUYZONE: 2700 - 2702
Stop Loss (SL): 2697
Take Profit (TP): 2705 - 2708 - 2715
XAUUSD BUYZONE: 2680 - 2678
Stop Loss (SL): 2675
Take Profit (TP): 2683 - 2686 - 2693 - OPEN
Wishing everyone an amazing start to the new year!
Market Summary:
Gold prices are consolidating around $2,790, with potential for short-term corrections despite positive GDP and industrial data from China. However, concerns about China's real estate market and US tariff policies are dampening expectations. Anticipation of Fed rate cuts and weak US data are supporting gold prices, while investors await US housing and industrial production reports for further signals.
Technical Support:
Following two volatile days driven by news events, gold has rebounded above $2,700 and maintains an upward trajectory. However, it has yet to breach the $2,620 - $2,624 range. The market appears to be cooling compared to the previous days, as indicated by today's trading sessions. Key support levels for capturing the market's uptrend include $2,700 - $2,702 and $2,680 - $2,678.
Trading Zones:
XAUUSD BUYZONE: 2700 - 2702
Stop Loss (SL): 2697
Take Profit (TP): 2705 - 2708 - 2715
XAUUSD BUYZONE: 2680 - 2678
Stop Loss (SL): 2675
Take Profit (TP): 2683 - 2686 - 2693 - OPEN
Wishing everyone an amazing start to the new year!
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🟡 DISCLAIMER:
Not financial advice.
Educational purposes only.
t.me/+xT2uUeadoeo1YTRl
🟡 DISCLAIMER:
Not financial advice.
Educational purposes only.
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