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LiamTrading – Gold Plan: Wide Range + US Politics Exert PressureLiamTrading – Gold Plan: Wide Range + US Politics Exert Pressure Gold continues to fluctuate within a wide range as market sentiment is heavily influenced by news from the United States. On 3rd October, the US Senate is expected to re-vote on the temporary budget bill. If it fails, the federal government could shut down, extending into the next week. This will undoubtedly have a significant impact on safe-haven flows, making gold more sensitive to key technical resistance zones. 📊 Technical Analysis – Chart H1 Gold is moving within a wide sideways structure, oscillating around strong resistance – support zones. Fibonacci Resistance + Psychological level around 3878–3881 → suitable for short-term Sell scalping. Confluence support (Retest + Volume) around 3828–3830 → ideal zone to watch for Buy, expecting a recovery wave. The larger trend still leans towards an increase, however, in the short term, the market will experience several liquidity sweeps. 🎯 Trading Scenario Sell (short-term – prioritise on M15): Entry: 3878–3881 SL: 3886 TP: 3860 – 3855 – 3840 – 3822 – 3810 Buy (retest support + volume): Entry: 3828–3830 SL: 3822 TP: 3845 – 3860 – 3877 – 3890 📌 Conclusion Today's range is quite wide, suitable for scalping according to psychological resistance zones. Short-term Sell at Fibonacci resistance points. Buy when price retests confluence support with volume. Political news from the US will be a catalyst causing significant gold volatility, so it's crucial to maintain disciplined capital management. 👉 Keep a close watch on the scenarios, I will update regularly as the market experiences new movements.
OANDA:XAUUSDShort
by LiamTradingFX
1
GOLD STORY #1: XAUUSD SIDEWAY – SHOULD I BUY OR SELL NOW?🔎 1/ Fundamental Analysis 🔴 Global economy and market sentiment: • Non-farm payrolls (NFP) data: Positive results, showing that the US economy is growing steadily. • Inflation – the deciding factor: The Fed is still waiting for CPI data next week, which will be the most important factor for interest rate policy. • Uncertainty from Russia-US tensions: Trade and political sanctions continue to increase, creating greater risks for the global market. 💡 Summary: Although the USD received support signals from NFP, gold prices still maintained their upward momentum due to risk-off sentiment. 📊 2/ Technical Analysis 🔵 W (Weekly) Frame: • After 5 weeks of sideways, gold price bounced back strongly, continuing the main trend. • The weekly candle closed with a strong body, showing that the bulls are in control. 🔵 D (Daily) Frame: • The key level 2600 has been broken, but the resistance zone 2725~2750 has not given a positive signal. • The price touches the resistance but continuously creates higher lows – the market is still leaning towards the bulls. 🔵 H1 Frame: • The uptrend is clear, but the price is near the resistance zone. • The Risk-Reward (R:R) ratio is no longer attractive to trade in the uptrend. 📈 3/ Trading Plan 🟢 BUY – Follow the trend: • If you have a buy order at a low price, congratulations! 🎉 👉 You can: • Hold the order: If you expect the price to continue to break the resistance. • Close a part: When the price touches the resistance zone of 2725~2750 to preserve profits. • Note: If you do not have a position, you should not FOMO into this price zone because the R:R ratio is no longer ideal. 🔴 SELL – Counter-trend: • Although the uptrend does not support selling, you can consider: • Wait for the price reaction at the resistance zone of 2725~2750. OANDA:XAUUSD • Expected profit should be low because this is a counter-trend trade. 🐂 Which side are you on – BULL or BEAR? 🐻 💬 Leave a comment and discuss with the community! OANDA:XAUUSD
FX:XAUUSD
by TonyL0ng