Strifor || GOLD-NFP Setup
Updated
Preferred direction: SELL
Comment: By the end of the week, all long trades on metals have been fixed, and on the eve of the NFP, we expect a fall in gold. It should be noted that a slight increase is still possible even without the NFP data, where, against the background of volatility, the price may rise above the current new historical maximum. However, this growth is nothing. Therefore, we're coming to NFP with two scenarios that differ in the range of potential false upward movement. Most likely, we won’t see the price above $2200.
Both scenarios are on the chart, where the overall target for the fall is located at the level of $2120.
It should also be said that there is no point in delaying sales, since the medium-term buyer is strong.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: By the end of the week, all long trades on metals have been fixed, and on the eve of the NFP, we expect a fall in gold. It should be noted that a slight increase is still possible even without the NFP data, where, against the background of volatility, the price may rise above the current new historical maximum. However, this growth is nothing. Therefore, we're coming to NFP with two scenarios that differ in the range of potential false upward movement. Most likely, we won’t see the price above $2200.
Both scenarios are on the chart, where the overall target for the fall is located at the level of $2120.
It should also be said that there is no point in delaying sales, since the medium-term buyer is strong.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
Note
The trading idea is relevant for today and the beginning of next week.Trade active
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