GOLD-Wait patiently
Updated
Awaiting today's key U.S. inflation data PCE, this data may provide more clues to the Federal Reserve's policy path and deserves everyone's attention. The U.S. market will also see changes in the number of initial jobless claims in the week of March 23, the final value of U.S. fourth-quarter GDP, and the final value of the University of Michigan Consumer Confidence Index in March, which may have a greater impact on the current market.
Both the daily cycle and the H4 cycle have a head-and-shoulders top pattern. The right shoulder is as high as 2200. Therefore, as long as gold does not break the high of 2200 in the near future, the head-and-shoulders top pattern will still hold. However, it may also appear during an upward trend. Second and third tests, if it breaks through 2200, it will change the pattern and may continue to rise again.
Today it is recommended to wait for the US market data to be released before following the trend and trading.
Now it is more important to be patient and wait
Join me and I will share my ideas in a timely manner to make your trading more successful
Note
Let's see will it break 2200?Note
Release data immediatelyNote
Today I predicted that it might break through 2200, thinking that there would be some room for growth if it breaks through 2200. Now it turns out that my prediction is correct.Note
Trading is a practice, and the road to investment is full of thorns and traps. Every success is not the end, and neither is failure. Only by maintaining your original intention and guarding against arrogance and impetuosity can investment become simpler!Note
I said that as long as it breaks through 2200, it will change the head and shoulders pattern and open up room for growth.Note
Follow my strategy and I'll share it again next weekNote
There is a strong possibility that the rise will continue next weekNote
Will gold continue to rise on Monday? Let's see how gold reacts to the data
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.