XAU#12: Blocking gold is burning? Experience when trading XAU🔥Yesterday we had a correction to 280x (slightly higher than the 279x analysis of analysis #11) which gave us a very nice buying position. Currently, the price is still continuing to conquer the next milestones. 🔥
💎 💎 💎 And here is the plan for FOREXCOM:XAUUSD : 💎 💎 💎
1️⃣ **Fundamental analysis:**
📊 The World Gold Center is Expanding, the shift of the gold market center from New York, London, Zurich to Dubai, Shanghai, Mumbai and Saudi Arabia.
🔴 Dubai now accounts for 25% of global gold trading, becoming the second largest market in the world. Demand for physical gold from emerging markets such as India, Turkey and China is increasing strongly because gold is considered a "stable currency".
📌 Morgan Stanley: No longer expecting the Fed to cut interest rates in March, expecting a rate cut in June
🚀 Although high interest rates and a strong USD often put pressure on gold, gold prices have remained stable, showing the sustainability of the uptrend. However, money flows from Western investors have not yet participated strongly in this price increase, although every slight adjustment is bought.
2️⃣ **Technical analysis:**
🔹 **D Frame**: Yesterday's candle closed showing optimism about the prospect of OANDA:XAUUSD 's price increase.
🔹 **H4 Frame**: The bullish structure has not changed.
🔹 **H1 Frame**: We have new support zones but there is no sign of a correction. Gold's uptrend is sustainable
3️⃣ **Trading plan:**
⛔ As you can see, the importance of trading with the trend. There are quite a few accounts that have been burned by stubbornly holding on to losses waiting for gold to fall. However, this action will erode our trading psychology and accounts. In my personal experience, blocking gold to catch a falling knife or holding on to losses at this time always brings bad results. The advice for those who have lost or are still holding on to losses is that we should end our mistakes and rest to stabilize our psychology before planning the next transaction.
✅ If we have a good position, we can completely wait for a larger profit according to the current situation. In my personal experience, with the current long-term increase, we can only wait until Gold reaches round numbers like 2900 or 3000. Pay special attention to the 3000 mark because its value is equivalent to an important psychological barrier
💪🚀 **Wish you successful trading!**
📌 For any questions, please contact us directly. I am ready to answer you for free
