XAU correction - market balance ! DOWN
Updated
✍️ NOVA hello everyone, Let's comment on gold price next week from 9/30 - 10/04/2024
🔥 World situation:
Gold dropped to a three-day low below $2,650 after the US Bureau of Economic Analysis (BEA) reported that September inflation is moving closer to the Federal Reserve's (Fed) target. Despite expectations for more Fed rate cuts, gold struggled as traders likely took profits. Currently, XAU/USD is trading at $2,657, down nearly 0.50%.
Earlier, the BEA announced that the Fed's preferred inflation measure, the Personal Consumption Expenditures (PCE) Price Index, showed progress toward the 2% goal in August. Core PCE also rose slightly compared to July’s data.
🔥 Identify:
Gold price completed 5 elliott waves, H4 frame uptrend. Waiting for gold correction chip to decrease in the near future
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2685, $2702
Support : $2643, $2628, 2571
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
🔥 World situation:
Gold dropped to a three-day low below $2,650 after the US Bureau of Economic Analysis (BEA) reported that September inflation is moving closer to the Federal Reserve's (Fed) target. Despite expectations for more Fed rate cuts, gold struggled as traders likely took profits. Currently, XAU/USD is trading at $2,657, down nearly 0.50%.
Earlier, the BEA announced that the Fed's preferred inflation measure, the Personal Consumption Expenditures (PCE) Price Index, showed progress toward the 2% goal in August. Core PCE also rose slightly compared to July’s data.
🔥 Identify:
Gold price completed 5 elliott waves, H4 frame uptrend. Waiting for gold correction chip to decrease in the near future
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2685, $2702
Support : $2643, $2628, 2571
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Trade active
The second market is about to return - the downward correction may still continueTrade active
Update plan XAU : 9/30/2024
⭐️Personal comments NOVA:
According to the H1 frame, the gold price is in two adjustment and downtrend lines, waiting for NF news this week
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2643 - $2641 SL $2636
TP1: $2650
TP2: $2655
TP3: $2662
🔥SELL GOLD zone: $2670 - $2672 SL $2677
TP1: $2663
TP2: $2657
TP3: $2650
Trade active
Gold price corrects to complete trend - reach support 2: 2628Trade active
Gold price adjusted down to 2627 then recovered around 2655. Accurate assessment PLAN WEEKLYTrade active
War news had a strong impact on gold prices - causing prices to increase sharply and return to the 2670 resistance area and are moving sideways.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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