Bears still dominate early August

Smart investment, Strong finance

GOLDEN INFORMATION:
Gold prices showed promise at the beginning of the week, extending gains from Friday despite lower open interest and volume. However, it seems unlikely that the upward momentum will continue at this time, making room for a corrective pullback instead. Currently, any bullish attempts are still being limited around the $1980 per troy ounce level.


Personal comments NOVA:
Gold price's attempt to reach the 1980 price zone continues to fail, indicating that buying has failed, the decline will continue this week with bad news for gold.


SET UP GOLD PRICE:
SELL GOLD zone: $1964 - $1967 SL $1977
TP 1: $1955
TP2: $1940


Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.

NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest

Kommentera:

The price is waiting for news to react strongly, let's wait for the entries like in the analysis

Kommentera:

Gold price goes right downtrend, approaching support 1940

Kommentera:

Right in the direction of the gold price, the price is strongly contesting this support area in the H1 frame. Need time to follow up

Kommentera:

exactly the support zone, the price bounced back when touching the 1940-1942 zone

Kommentera:

XAU/USD struggles to capitalize on modest uptick, hovers below $1,950

Kommentera:

After 2 days of high price fluctuations, the 4th day saw the sideway in the H1 frame possibly continue before the Non-farm news was announced.

Kommentera:

sideway around the landmark 1945-1955

Kommentera:

waiting for today's news for gold price to react, still sideway 1945-1955

Kommentera:

The price is still following the main trend in the article which is down.

Set up : BUY gold 1929-1931 SL 1920
TP: 1940
TP: 1955

Kommentera:

Unfortunately, the price hit 1932 and rallied. Sideway in this price range ends today

Kommentera:

In the Eurasian session, the price did not change strongly, sideways around the 1930-1940 mark

Kommentera:

Update order :
BUY XAU zone 1935- 1937 SL 1930

TP : 1943, 1950

Kommentera:

+ 25 PIPS FROM ENTRY 1935