Buy XAUUSD at a low level.
Updated
Today, the New York market dealt a severe blow to bullish investors. Shortly before the opening, prices began to decline, reaching a low of 2708, with a drop of approximately 50 points. This downward movement was primarily driven by heightened bearish sentiment resulting from overbought conditions, as well as negative news and comments from the Federal Reserve Chair. These combined factors led to a rapid decline in gold prices over several hours.
Currently, bearish sentiment appears to be persisting. In the short term, we need to observe whether the market stabilizes in the 2700-2708 range. If stability is achieved, gold may rebound to the 2741 level, as the market has formed a double bottom support at the hourly level. Conversely, if the market fails to stabilize in the 2700-2708 range, the lower channel will open, potentially exacerbating the downward sentiment and increasing bearish pressure.
Latest Trading Thoughts: The New York market is expected to maintain a low-range consolidation with limited trading opportunities; hence, a cautious approach is advisable. Focus on movements in the Asian market and any bullish news stemming from geopolitical developments. If the New York market does not drop below the 2708 level before the close, the probability of a rebound in the Asian market exceeds 98%, making a bullish stance prudent.
Trading Plan:
Buy Zone: 2711-2708
Take Profit: 2725-2740
Stop Loss: 2700
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GOLD XAUUSD Trade active
Several very critical points.Trade active
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The upper position of 2731-2737 needs to be broken. This is the space pressure above.Trade active
But buy with me at a low level yesterday. Now look. The profit is still very good, rising by about ten points.Trade active
Guys. The order has made a profit of about 20 points from the purchase to now. This is a good profit. Pause trading and observe the market. But what about the next fast trading strategy? Stay tuned.Trade active
GOLD Big profit after buying at low price
Fast trading strategy is a good profit for some people who are losing money.
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