Gold Retests ATH – Awaiting the Nonfarm Storm!

2 days ago

🌍 Market Overview:
Last week, gold reached a new all-time high (ATH) but is now facing strong resistance, aligning with the predicted USD rebound from our previous DXY plan.
With the Lunar New Year holidays over, liquidity has returned to the market, bringing more trading opportunities in the Asian and European sessions.
USD Strength: Positive U.S. economic data and the Fed’s decision to keep rates unchanged in January continue to support the dollar, creating potential pressure on gold.
However, gold’s persistent breakout attempts suggest strong bullish sentiment, with price action still respecting a sustainable parallel upward trend channel from the start of the year.

📊 Key Market Events This Week:
Nonfarm Payrolls (Friday):
A crucial event that will determine short-term USD momentum, significantly impacting gold price action.
Investors will adjust their positions accordingly, increasing volatility.
ISM Services PMI (Thursday):

This report will provide further insight into U.S. economic activity and could influence USD strength.
Technical Market Reaction:

Gold remains in an uptrend, but recent reactions at Fibonacci Extension (FE) levels indicate temporary selling pressure at key resistance zones.
📈 Technical Analysis for XAU/USD:
Key Support Levels:

$2781 - $2777: Immediate support in today’s session.
$2770 - $2763: Stronger support for a deeper retracement.
Key Resistance Levels:

$2801 - $2808: Short-term resistance range for intraday trading.
$2830 - $2836: Major resistance zone, critical for trend continuation.
💡 Trading Plan for Today:
BUY ZONE:

Entry: $2773 - $2771
SL: $2767
TP: $2776 - $2778 - $2782 - $2785 - $2790 - $2795 - ????
SELL ZONE:

Entry: $2834 - $2836
SL: $2840
TP: $2830 - $2827 - $2824 - $2820 - $2815 - $2810

⚠️ Important Notes:
Market volatility is still high, and liquidity is returning, which may lead to unpredictable price swings.
Caution: Adhere to TP/SL levels strictly to protect capital and avoid overleveraging.
🤔 What’s Your Take?
Will gold continue its bullish momentum, or will we see a deeper correction before Nonfarm?
👉 Follow KevinNguyen-SimpleTrade for real-time updates and premium trade setups! 🚀

2 days ago

Trade active

🚀 EUROPEAN & PRE-US SESSION TRADE PLAN UPDATE – GET READY FOR EXPLOSIVE MOVES!
📌 Morning Session Recap:
Right at the start of the week, our BUY ZONE 2772 - 2770 played out perfectly with strong confluence from FIBO 0.618 + trendline + FVG support, delivering a solid +120 pips profit in the Asian session! 🔥

💡 The market is currently trading within a wide range, fluctuating between 2770 - 2792 (over 20 pips range). This creates prime trading opportunities as we head into the European and Pre-US session.

📊 EUROPEAN & PRE-US SESSION TRADE PLAN:
🔴 Sell Setup – Retracement Opportunity:

Key Resistance Zone: 2792 - 2794 – a high-volume (VPOC) area on current timeframes.
Expected Reaction: If price faces resistance, it could drop 10 pips or even retest the 2774 - 2772 zone.
Breakout Scenario: If price falls below 2772, further downside potential is likely.
🟢 Buy Setup – Continuation Play:

If price holds at 2770 - 2772, a rebound towards 2792 - 2794 is likely, with further upside potential to 2800+.
Breakout Confirmation: If price breaks and holds above 2794, bullish momentum will likely push it higher.
⚠️ IMPORTANT NOTES:
📌 No major economic news today, but markets are still reacting to last week's data.
📌 High volatility expected, especially in the US session with increased liquidity.
📌 Risk management is key: Always set TP/SL to protect your account from unexpected price swings.

🔥 Get ready for high-probability trade setups in the European & Pre-US session!
📍 Are you in position yet? Drop your thoughts in the comments!
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