This Weeks Trade Plan - October 15th, 2024
Updated
Price Update!
🌍 Market News Update
This week’s economic data is expected to exert downward pressure on gold, with retail sales and labor market strength potentially bolstering the USD and reducing demand for gold as a safe-haven asset.
📊 NEWS THIS WEEK 🏦
Mon, Oct 14
Bank Holiday!
Thu, Oct 17
🔴 Core Retail Sales m/m
Forecast: 0.1% | Previous: 0.1%
Lower-than-expected retail sales may signal weakness in consumer spending, bearish for gold.
🔴 Retail Sales m/m
Forecast: 0.3% | Previous: 0.1%
If retail sales come in lower than forecast, it may point to economic slowdown, which could strengthen gold.
🔴 Unemployment Claims
Forecast: 241K | Previous: 258K
A stronger labor market with fewer claims could support the USD and exert downward pressure on gold.
Trade Entries
This week anticipating some retracements with Gold given the news is looking bearish, however overall still looking at Buy entries
📈 Buy Entry 1: $2,650
🎯 TP 1: $2,675.00
🎯 TP 2: $2,685.00
🎯TP 3: Leave portion of trade open
🔒 SL 1: $2,642.00
📈 Buy Entry 2: $2,629.91 - $2,623.82
🔄$2,636.99 – Buy Stop Entry if initial target is a miss
🎯 TP 1: $2,675.00
🎯 TP 2: $2,685.00
🎯TP 3: Leave portion of trade open
🔒 SL 2: $2,615.00
As always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.
🌍 Market News Update
This week’s economic data is expected to exert downward pressure on gold, with retail sales and labor market strength potentially bolstering the USD and reducing demand for gold as a safe-haven asset.
📊 NEWS THIS WEEK 🏦
Mon, Oct 14
Bank Holiday!
Thu, Oct 17
🔴 Core Retail Sales m/m
Forecast: 0.1% | Previous: 0.1%
Lower-than-expected retail sales may signal weakness in consumer spending, bearish for gold.
🔴 Retail Sales m/m
Forecast: 0.3% | Previous: 0.1%
If retail sales come in lower than forecast, it may point to economic slowdown, which could strengthen gold.
🔴 Unemployment Claims
Forecast: 241K | Previous: 258K
A stronger labor market with fewer claims could support the USD and exert downward pressure on gold.
Trade Entries
This week anticipating some retracements with Gold given the news is looking bearish, however overall still looking at Buy entries
📈 Buy Entry 1: $2,650
🎯 TP 1: $2,675.00
🎯 TP 2: $2,685.00
🎯TP 3: Leave portion of trade open
🔒 SL 1: $2,642.00
📈 Buy Entry 2: $2,629.91 - $2,623.82
🔄$2,636.99 – Buy Stop Entry if initial target is a miss
🎯 TP 1: $2,675.00
🎯 TP 2: $2,685.00
🎯TP 3: Leave portion of trade open
🔒 SL 2: $2,615.00
As always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.
Trade closed: target reached
Target Well and Truly Reached! What a great week!
📈 Buy Entry 1: $2,650
🎯 TP 1: $2,675.00
🎯 TP 2: $2,685.00
🎯TP 3: Leave portion of trade open
🔒 SL 1: $2,642.00
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