PLAN XAUUSD WEEK 46 ( 13/11 - 17/11)

Nov 12, 2023

📊 In the upcoming week, there will be significant news regarding the US Dollar, Australian Dollar, and the British Pound, leading to potential strong fluctuations in currency pairs. Specific events include Consumer Price Index (CPI), Retail Sales, Producer Price Index (PPI), among others. Based on my predictions, CPI is expected to be lower compared to previous periods, resulting in a decrease in the DXY (US Dollar Index) and an increase in the price of Gold. However, Group ZC advises members to limit trading during sensitive news times to preserve capital, waiting to analyze the market direction after news absorption.

📊 Regarding the Middle East conflict, I maintain the view that it's an unpredictable variable. Personally, I anticipate that news about the conflict between Hamas and Israel will cool down in the coming week, followed by a potential resurgence in a few weeks. Therefore, my plan for this week aligns with the previous week: a slight increase in Gold, followed by a correction before further upward movement.

🪙 Gold Plan: Last week, the analysis indicated a retracement not reaching 2006, resulting in no favorable entry. Recognizing a failed rebound in the range of 1972-1975, adhering to the plan to initiate a buy at 1945-1955 would have yielded a good entry for a slight rebound. This week, considering a correction to 1927-1930 for a Buy with a Take Profit (TP) at 1969 and a Sell opportunity at 1955-1958 to profit from a correction with TP at 5-8 price points. Each order has a Stop Loss (SL) set at 5 price points.