GOLD/XAUUSD BUY AND THEN SELL or BUY?
🔰 Pair Name : XAU/USD
🔰 Time Frame : 1 HOUR
🔰 Scale Type : MID SCALE
🔰 Direction: BUY THEN SELL
During the US 4th of July bank holiday, Gold experienced minimal price movement. On Monday, the price reached $1930.76, which corresponds to the Fibonacci level, and then spent the following two days retesting the 78.6% Fibonacci level within the range of $1922.64. If you are uncertain about trading within channels, it may be beneficial to analyze demand and supply zones, as well as Fibonacci tools.
Currently, Gold exhibits a robust bullish momentum towards the Fibonacci level at $1938.99, precisely aligned with its recent one-hour key high. With the imminent release of the FOMC minutes later today, we expect the Gold price to continue rising towards the $1938.99 area, representing the Fibonacci extension level of 121.7%. However, there is a possibility of a false breakout occurring at the key high level, leading to the extraction of remaining liquidity that has accumulated over the past week and a half. Subsequently, we may witness a decline towards at least $1930.76, followed by $1926.43 at the Fibonacci levels of 100% and 88.6% respectively. Depending on market conditions, there is a chance that the price may either drop further to $1892 or rise to the Fibonacci extension level of 161.8% to address the significant market imbalance between the $1939 to $1950 range.
The subsequent price action will heavily depend on the outcome of the FOMC meeting tonight and any significant news announcements expected tomorrow. We recommend staying updated with our team's insights and analysis.
🔰 Time Frame : 1 HOUR
🔰 Scale Type : MID SCALE
🔰 Direction: BUY THEN SELL
During the US 4th of July bank holiday, Gold experienced minimal price movement. On Monday, the price reached $1930.76, which corresponds to the Fibonacci level, and then spent the following two days retesting the 78.6% Fibonacci level within the range of $1922.64. If you are uncertain about trading within channels, it may be beneficial to analyze demand and supply zones, as well as Fibonacci tools.
Currently, Gold exhibits a robust bullish momentum towards the Fibonacci level at $1938.99, precisely aligned with its recent one-hour key high. With the imminent release of the FOMC minutes later today, we expect the Gold price to continue rising towards the $1938.99 area, representing the Fibonacci extension level of 121.7%. However, there is a possibility of a false breakout occurring at the key high level, leading to the extraction of remaining liquidity that has accumulated over the past week and a half. Subsequently, we may witness a decline towards at least $1930.76, followed by $1926.43 at the Fibonacci levels of 100% and 88.6% respectively. Depending on market conditions, there is a chance that the price may either drop further to $1892 or rise to the Fibonacci extension level of 161.8% to address the significant market imbalance between the $1939 to $1950 range.
The subsequent price action will heavily depend on the outcome of the FOMC meeting tonight and any significant news announcements expected tomorrow. We recommend staying updated with our team's insights and analysis.
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We are selling gold
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Price will retrace back to 1930.2-1930.4 before going down again. You can sell from there
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THERE WE GO
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watch out going up !!!
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Trade stängt: målet nått
