GOLD ANALYSIS NOVEMBER 1: STRONG BEAR
Updated
💯DAILY GOLD PLAN UPDATE: October 27
👉 Gold is on a downward trend again as investors exit their gold holdings after news that Hamas will release foreign hostages without any conditions attached in the context of Israel. Land troops and prepare for a comprehensive attack on Northern Gaza. This makes investors think that if Hamas gives in and steps down, the conflict will calm down and the expansion factor will subside... so Gold is pressured to sell.
👉Investors are also watching the US central bank's policy decision on Wednesday. Although the Fed is expected to keep interest rates unchanged, the market will focus on Chairman Jerome Powell's comments. Although considered an inflation hedge, higher interest rates have reduced the appeal of gold.
👉 Today, I will still give priority to Sell orders.
📌Today's trading plan:
🔽 Selling Gold Entry: 1991x – 1993x
SL 1996
TP 1980 -1965 -1955
🔼 Buy Gold Scapling Entry: 1966x -1964x
Sl 1961
TP 1975- 1984 -1991
🔼 Buy Gold Scapling Entry: 1952x - 1948x
Sl 1946
TP 1962 -1975
👉 Gold is on a downward trend again as investors exit their gold holdings after news that Hamas will release foreign hostages without any conditions attached in the context of Israel. Land troops and prepare for a comprehensive attack on Northern Gaza. This makes investors think that if Hamas gives in and steps down, the conflict will calm down and the expansion factor will subside... so Gold is pressured to sell.
👉Investors are also watching the US central bank's policy decision on Wednesday. Although the Fed is expected to keep interest rates unchanged, the market will focus on Chairman Jerome Powell's comments. Although considered an inflation hedge, higher interest rates have reduced the appeal of gold.
👉 Today, I will still give priority to Sell orders.
📌Today's trading plan:
🔽 Selling Gold Entry: 1991x – 1993x
SL 1996
TP 1980 -1965 -1955
🔼 Buy Gold Scapling Entry: 1966x -1964x
Sl 1961
TP 1975- 1984 -1991
🔼 Buy Gold Scapling Entry: 1952x - 1948x
Sl 1946
TP 1962 -1975
Note
50 PIP FROM ENTRY SELLNote
+110 pip. DOne tp 1
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