Gold Thursday Trading Strategy
#XAUUSD 5/16/2024
Today gold reached the 2395-2398 area I mentioned earlier. Then it fell to around 2380.
Yesterday's CPI data took advantage of buying gold. So yesterday's gold rally was strong. We still can't oversell gold today. If the gold price pulls back, then we can buy gold
Of course, there’s also dollar news today: Thursday’s unemployment claims figures.
Recommended buying areas:
Buy xauusd:
1/2373-2377 (If gold continues to rise. The callback price is very small, then this is a good callback buying price. We can buy in small batches. And try to make a profit of more than 50pips)
2/2362-2366 sl2356 (If gold falls directly to this price, then buy directly)
3/2349-2352 (The probability of this price triggering is not high. If gold pulls back multiple times, then this signal may take effect)
Recommended selling area: regular sl25-35pips
1/2394-2396 (If gold reaches this price, I will try to make at least 30pips profit. And set sl2398.)
2/2402-2406 (If gold reaches this price I think I would trade to try and make a profit of 50pips or more)
3/2313-2317 (The highest price that gold may show today is 2324, but I don’t think it will reach this price. This signal may not be effective)
Please read the analysis patiently and follow the notes behind each signal. Perhaps you will adapt and slowly gain trading skills and analytical skills. Of course I think you can definitely make a profit if you strictly follow my signals. Please try to be a professional trader to gain profits and progress in the long term.
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