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
