🔰 Pair Name : XAU/USD
🔰 Time Frame : 1H/4H
🔰 Scale Type : SMALL Scale
🔰 Direction : SELL
📈 Gold Analysis for Today's Trading Session 📉
Hello Traders! 🌟
Yesterday's US JOLTS Job Openings data release had a notable impact on gold prices. 📊 The precious metal managed to cross the crucial Fibonacci Level of 50% despite facing some negative pressure. ⚖️
Today, our focus is on the potential price movements in the gold market. 🕵️♂️ It's quite likely that we might witness a corrective move downwards, aimed at tapping into the liquidity below. This move could potentially be a strategic attempt to refill approximately 50% of the market imbalance. ⚙️
However, keep a close watch on the upcoming ADP employment data release scheduled for later today. 📆 This data could play a pivotal role in influencing gold's trajectory. Depending on the ADP data's impact, we might observe gold extending its downward movement. 📉 It could either retest the Fibonacci Level of 38.2% for a strong support test, or in a more bearish scenario, head straight towards the prominent Fibonacci Level of 61.8%. 📉📊
As always, it's essential to trade cautiously and manage your risk effectively. 🛡️ Market movements can be unpredictable, and staying informed about fundamental data releases is crucial for making informed trading decisions. 📈📊
Best of luck on your trades! 🍀📊📈
(Note: This analysis is for informational purposes only and should not be considered financial advice.) 💼🔍📊
🔰 Time Frame : 1H/4H
🔰 Scale Type : SMALL Scale
🔰 Direction : SELL
📈 Gold Analysis for Today's Trading Session 📉
Hello Traders! 🌟
Yesterday's US JOLTS Job Openings data release had a notable impact on gold prices. 📊 The precious metal managed to cross the crucial Fibonacci Level of 50% despite facing some negative pressure. ⚖️
Today, our focus is on the potential price movements in the gold market. 🕵️♂️ It's quite likely that we might witness a corrective move downwards, aimed at tapping into the liquidity below. This move could potentially be a strategic attempt to refill approximately 50% of the market imbalance. ⚙️
However, keep a close watch on the upcoming ADP employment data release scheduled for later today. 📆 This data could play a pivotal role in influencing gold's trajectory. Depending on the ADP data's impact, we might observe gold extending its downward movement. 📉 It could either retest the Fibonacci Level of 38.2% for a strong support test, or in a more bearish scenario, head straight towards the prominent Fibonacci Level of 61.8%. 📉📊
As always, it's essential to trade cautiously and manage your risk effectively. 🛡️ Market movements can be unpredictable, and staying informed about fundamental data releases is crucial for making informed trading decisions. 📈📊
Best of luck on your trades! 🍀📊📈
(Note: This analysis is for informational purposes only and should not be considered financial advice.) 💼🔍📊
Trade active
Order cancelled
Note
Note
We have decided to hold off on selling Gold at this time, primarily in response to the ongoing price action. Our analysis indicates a favorable upward potential, especially within the context of the significant downtrend channel. Notably, our attention is drawn to the allocation on the 61.8% Fibonacci retracement level, which presents an intriguing opportunity before any potential downside movement. 📈💰🚀 Stay vigilant and keep an eye on these developments!Trade active
we are buying to 1946 before any sellTrade active
Trade closed: target reached
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.
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.