⭐️GOLDEN INFORMATION: There is no important US economic news today, mainly based on technical analysis according to the Gold chart
⭐️Personal comments NOVA: Prices are forming a downward wave pattern in the short term. According to fibonacci, Gold prices need a DOWN adjustment period to continue creating more liquidity for the market in early 2024.
⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL 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
Comment
The price is approaching the SELL 2074-2076 entry area, waiting for news of the European trading session
Comment
+ 30 pips , from entry SELL 2074-2076
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+ 40 pips , nice signal
Comment
The price of gold (XAU/USD) begins the year 2024 on a positive note, showing strong stability on Tuesday due to expectations of the Federal Reserve (Fed) lowering interest rates starting in March. The factors contributing to these hopes for rate cuts are substantial improvement in inflation levels approaching 2%, as well as a more relaxed labor market resulting from a restrictive monetary policy.
Comment
+ 80 pips , for signal SELL 2074-2076
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+ 100 pips , nice .
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+ 140 pips , from entry SELL 2076. Wonderfull
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+ 180 pips , more TP 2 . Nice
Comment
As expected, the price is in the main downtrend, currently trading below the 2060 area
Comment
After a short correction, Gold price is currently trading around 2060. Continue sideways to complete the downward correction.
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