Despite the lower-than-expected inflation, which may prompt some traders to cover short positions and ultimately provide much-needed support for gold, the overall accumulation has been stronger than anticipated in recent weeks, and the clear trend of the Fed is to raise interest rates again, indicating a 25 bps rate hike is still on the table for the July FOMC meeting.
Trading strategy:
SELL XAU/USD around the price range of 1957-1960.
Stop Loss: 1964.
Take Profit 1: 1950.
Take Profit 2: 1945.
Take Profit 3: 1940.
BUY XAU/USD around the price range of 1928-1933.
Stop Loss: 1924.
Take Profit 1: 1940.
Take Profit 2: 1945.
Take Profit 3: 1950.
Note:
Trade with 1% of your account per trade to ensure capital management principles.
Do not exceed 5% of your account capital within the nearest 10 price levels.
Always set Stop Loss (SL) in all situations and pay attention to trades based on your current capital.
Trading strategy:
SELL XAU/USD around the price range of 1957-1960.
Stop Loss: 1964.
Take Profit 1: 1950.
Take Profit 2: 1945.
Take Profit 3: 1940.
BUY XAU/USD around the price range of 1928-1933.
Stop Loss: 1924.
Take Profit 1: 1940.
Take Profit 2: 1945.
Take Profit 3: 1950.
Note:
Trade with 1% of your account per trade to ensure capital management principles.
Do not exceed 5% of your account capital within the nearest 10 price levels.
Always set Stop Loss (SL) in all situations and pay attention to trades based on your current capital.
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