#XAUUSD/H1 Adjust down or continue to move sideways?
Gold XAUUSD trend analysis for September 3, 2024:
The gold price on September 2, 2024, did not break the previous sideways range. Currently, short-term investor confidence mostly predicts a deep correction towards the 243x - 244x area, followed by a continuation of the long-term upward trend. If the 248x area is broken, this correction will be officially confirmed. The PMI news tonight will determine whether there will be a downward adjustment.
Today's trading trend: SELL and wait to hold BUY at lower price levels.
Key price areas to pay attention to:
SELL ZONE: 2503 - 2508, 2517 - 2522, 2527 - 2531.
BUY ZONE: 2477 - 2482, 2460 - 2465, 2440 - 2444.
Recommended orders:
Plan 1: SELL XAUUSD zone 2503 - 2505
SL 2509
TP 2500 - 2495 - 2480 - 2440.
Plan 2: SELL XAUUSD zone 2517 - 2519
SL 2523
TP 2512 - 2500 - 2490 - 2440.
Plan 3: BUY XAUUSD zone 2440 - 2443
SL 2437
TP 2450 - 2480 - 2520 - 2565.
The gold price on September 2, 2024, did not break the previous sideways range. Currently, short-term investor confidence mostly predicts a deep correction towards the 243x - 244x area, followed by a continuation of the long-term upward trend. If the 248x area is broken, this correction will be officially confirmed. The PMI news tonight will determine whether there will be a downward adjustment.
Today's trading trend: SELL and wait to hold BUY at lower price levels.
Key price areas to pay attention to:
SELL ZONE: 2503 - 2508, 2517 - 2522, 2527 - 2531.
BUY ZONE: 2477 - 2482, 2460 - 2465, 2440 - 2444.
Recommended orders:
Plan 1: SELL XAUUSD zone 2503 - 2505
SL 2509
TP 2500 - 2495 - 2480 - 2440.
Plan 2: SELL XAUUSD zone 2517 - 2519
SL 2523
TP 2512 - 2500 - 2490 - 2440.
Plan 3: BUY XAUUSD zone 2440 - 2443
SL 2437
TP 2450 - 2480 - 2520 - 2565.
Note
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