D1 frame is a Doji candle with unclear buying and selling power. but the market is still in the structure of a corrective downtrend.
H4 shows a strong increase from 2970 to 3050 due to data from fundamental analysis
Trading scenario: Gold is approaching the fionacci retracement zone. Pay attention to the two SELL zones today 3063-3065 and the zone 3089-3091.
For gold to move towards the upper SELL zone, gold needs to surpass 3047. If it does not break 3047 and close below 3039, wait for a retest to SELL to 3021 in the US session. If it does not break 3021, then BUY again in this zone. If it confirms closing below 3021, hold at 2990 today.
H4 shows a strong increase from 2970 to 3050 due to data from fundamental analysis
Trading scenario: Gold is approaching the fionacci retracement zone. Pay attention to the two SELL zones today 3063-3065 and the zone 3089-3091.
For gold to move towards the upper SELL zone, gold needs to surpass 3047. If it does not break 3047 and close below 3039, wait for a retest to SELL to 3021 in the US session. If it does not break 3021, then BUY again in this zone. If it confirms closing below 3021, hold at 2990 today.
Trade active
Gold edges higher, eyes $3,100 targetGold maintained its bullish momentum and moved closer to $3,100 an ounce on Wednesday, supported by steady safe-haven demand amid trade tensions between the United States and China.
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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.