Gold trading plan on 23/08/2023

Mars_Hunter Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
⚡️World gold price this morning continued to increase slightly with spot gold up 2.9 USD to 1,897.2 USD/ounce. December gold futures last traded at $1,926.0 per ounce, up $2.30 from dawn yesterday.

⚡️In yesterday's trading session, 8/22. Short-term offsets and some light bargain hunting are believed to have been the hallmarks of the precious metal's rally, after hitting a five-month low in recent times.

⚡️In the afternoon session on August 22, the world gold price once crossed the threshold of 1,900 USD/ounce. However, because the USD and US Treasury bond yields remained strong, attracting money flows, gold price turned back slightly below the threshold of 1,900 USD/ounce.

⚡️The market looks quieter as traders and investors alike turn their attention to the Federal Reserve's (Fed) annual economic symposium to be held this weekend in St. Jackson Hole, Wyoming. All are waiting for Fed Chairman Jerome Powell's speech for clues on the interest rate outlook.

⚡️Trading strategy: You can set a sell order at 1907-1910. SL 1915 TP 1900,1895

Gold price (XAU/USD) strengthens this week as the rally in US Treasury yields halts amid fading hopes of more interest-rate increases from the Federal Reserve (Fed). US headline Consumer Price Index (CPI) has come down to 3.2% from its peak of 9.1% due to an aggressive rate-tightening cycle, but the Fed will likely have to keep interest rates higher for a longer period as the remaining excess inflation above the desired rate of 2% seems extremely stubborn.
Price has not touched the entry yet, continue to wait. Congratulations to those of you who have sold around the price range
That gold had a sudden spike approaching the 1920 price range. Do you think gold will change its uptrend. According to observing the daily frame, gold started to run wave 4 of the elliot wave pattern. the possibility that gold will continue to decrease if it hasn't broken the 1922 price zone and closed above it.
gold today has surged to break 1920. We are waiting to see a bounce from the market.

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