⚡️Market news
Gold prices traded more steadily on Friday, thanks to supportive policy measures and strong business activity data from China. These factors boosted market sentiment and dampened the safe-haven demand for the US dollar, limiting its recent appreciation.
Furthermore, concerns about low yields on US Treasury bonds also provided additional support for gold prices without generating any profits.
The strong resistance level at $1,920 held firm, allowing gold prices to potentially retreat towards the $1,900 mark.
Sellers of gold will need to break this level in order to initiate a new downward trend towards the static support level at $1,885.
⚡️Optimus's point of view
For gold to clearly show recovery after a series of days of unending decline, gold needs to close the weekly candle above the 1920 price range.
After the PPI news, there were positive signals for the dollar, gold also fell to 1900. Because this is too strong a support zone, gold recovered to 191x in today's Asian session.
⚡️Plan trading
SELL GOLD: 1917-1920
SL 1925
TP 1910
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Gold prices traded more steadily on Friday, thanks to supportive policy measures and strong business activity data from China. These factors boosted market sentiment and dampened the safe-haven demand for the US dollar, limiting its recent appreciation.
Furthermore, concerns about low yields on US Treasury bonds also provided additional support for gold prices without generating any profits.
The strong resistance level at $1,920 held firm, allowing gold prices to potentially retreat towards the $1,900 mark.
Sellers of gold will need to break this level in order to initiate a new downward trend towards the static support level at $1,885.
⚡️Optimus's point of view
For gold to clearly show recovery after a series of days of unending decline, gold needs to close the weekly candle above the 1920 price range.
After the PPI news, there were positive signals for the dollar, gold also fell to 1900. Because this is too strong a support zone, gold recovered to 191x in today's Asian session.
⚡️Plan trading
SELL GOLD: 1917-1920
SL 1925
TP 1910
⚡️Note
Full SL settings for trading signals
Divide the trading volume to enter around the price range
If you feel the profit is enough, you can close 1/2 and move Sl to entry
Comment:
Gold has followed my weekly plan analysis. You can see other posts to update the current gold price situation. Gold SELL strategy won 40 pips, can you enter according to the signal?
Trade closed: stop reached:
The strategy is complete. Readers, please update the latest strategy
Comment:
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Please follow my latest strategy
