🔔🔔🔔Gold news:
👉The price of gold (XAU/USD) remains firm around $2,985 after pulling back from its record high of $3,005 during the early Asian session on Monday. The weaker US Dollar and concerns about global economic uncertainty amid a potential trade war continue to support the precious metal. Investors are now focused on the upcoming US February Retail Sales data, set to be released later on Monday.
Personal opinion:
👉Gold prices remain in a long-term uptrend due to economic, political and war information in many regions
👉However, in the short term, gold prices will have a correction to gain momentum for the next main trend
👉Technically, gold is forming a head and shoulders pattern when it cannot break the old peak of 3005. Therefore, in the short term, there will be a decline. But gold will find it difficult to fall deeply, so be careful to limit selling.
Analysis:
👉Based on important resistance - support levels combined with trend lines and price action to come up with a suitable strategy
Resistance zone: 2994 -3005-3020
Support zone: 2980 - 2971 - 2956
Plan:
🔆Price Zone Setup:
👉Buy Gold 2,970 - 2,973 (Scalping)
❌SL: 2,975 | ✅TP: 2,983 - 2,986 - 2,990
👉Buy Gold 2,955 - 2,957
❌SL: 2,950 | ✅TP: 2,962 – 2,967 – 2,980
👉Sell Gold 3,010 – 3,012 (Scalping)
❌SL: 3,016 | ✅TP: 3,007 – 3,004 – 3,000
👉Sell Gold 3,019 – 3,021
❌SL: 3,025 | ✅TP: 3,015 – 3,0010 – 3,005
FM wishes you a successful trading day 💰💰💰
👉The price of gold (XAU/USD) remains firm around $2,985 after pulling back from its record high of $3,005 during the early Asian session on Monday. The weaker US Dollar and concerns about global economic uncertainty amid a potential trade war continue to support the precious metal. Investors are now focused on the upcoming US February Retail Sales data, set to be released later on Monday.
Personal opinion:
👉Gold prices remain in a long-term uptrend due to economic, political and war information in many regions
👉However, in the short term, gold prices will have a correction to gain momentum for the next main trend
👉Technically, gold is forming a head and shoulders pattern when it cannot break the old peak of 3005. Therefore, in the short term, there will be a decline. But gold will find it difficult to fall deeply, so be careful to limit selling.
Analysis:
👉Based on important resistance - support levels combined with trend lines and price action to come up with a suitable strategy
Resistance zone: 2994 -3005-3020
Support zone: 2980 - 2971 - 2956
Plan:
🔆Price Zone Setup:
👉Buy Gold 2,970 - 2,973 (Scalping)
❌SL: 2,975 | ✅TP: 2,983 - 2,986 - 2,990
👉Buy Gold 2,955 - 2,957
❌SL: 2,950 | ✅TP: 2,962 – 2,967 – 2,980
👉Sell Gold 3,010 – 3,012 (Scalping)
❌SL: 3,016 | ✅TP: 3,007 – 3,004 – 3,000
👉Sell Gold 3,019 – 3,021
❌SL: 3,025 | ✅TP: 3,015 – 3,0010 – 3,005
FM wishes you a successful trading day 💰💰💰
Trade active
unlucky missed 20 pips to enter 3019
missed 110 pips profit (down to 3007)
Cancel Sell 3019
Trade closed: target reached
The initial goal has been achieved.
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
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.