Gold on Monday (8/5/2024) experienced a 1000pip drop, reflecting the common sentiment when the market takes profit and creates a downtrend.
Today's Asia-Europe session may see a slight recovery before continuing the drop.
The predominant trading trend today is SELL.
Key price levels to watch are: 2426-2434 and 2350-2355.
Recommended orders:
Plan 1: SELL XAUUSD zone 2428 - 2431
SL 2437
TP 2420 - 2400 - 2385 - 2355.
Plan 2: BUY XAUUSD zone 2351-2354
SL 2348
TP 2360 - 2370 - 2385.
Today's Asia-Europe session may see a slight recovery before continuing the drop.
The predominant trading trend today is SELL.
Key price levels to watch are: 2426-2434 and 2350-2355.
Recommended orders:
Plan 1: SELL XAUUSD zone 2428 - 2431
SL 2437
TP 2420 - 2400 - 2385 - 2355.
Plan 2: BUY XAUUSD zone 2351-2354
SL 2348
TP 2360 - 2370 - 2385.
Note
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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.