Uptrend maintained! XAU! 10/23
Updated
XAU / USD trend forecast October 23, 2024
Gold prices continued to climb for the fifth time in six days, reaching a record high of $2,748, just below the key $2,750 level. Rising geopolitical tensions and expectations of further rate cuts by the Federal Reserve (Fed) are supporting the metal. As a result, XAU/USD trades around $2,744, up nearly 1%.
Despite soaring US Treasury yields, risk aversion keeps gold strong. Since the Fed's 50 basis point rate cut on September 18, the US 10-year Treasury yield has risen to 4.20%, suggesting that traders anticipate a less dovish Fed stance.
M45 is forming an uptrend DOW structure - still waiting for higher ATH from gold: 2753
/// SELL XAU : zone 2753-2756
SL: 2761
TP: 50 - 200 - 300 pips (2726)
Safe and profitable trading
Gold prices continued to climb for the fifth time in six days, reaching a record high of $2,748, just below the key $2,750 level. Rising geopolitical tensions and expectations of further rate cuts by the Federal Reserve (Fed) are supporting the metal. As a result, XAU/USD trades around $2,744, up nearly 1%.
Despite soaring US Treasury yields, risk aversion keeps gold strong. Since the Fed's 50 basis point rate cut on September 18, the US 10-year Treasury yield has risen to 4.20%, suggesting that traders anticipate a less dovish Fed stance.
M45 is forming an uptrend DOW structure - still waiting for higher ATH from gold: 2753
/// SELL XAU : zone 2753-2756
SL: 2761
TP: 50 - 200 - 300 pips (2726)
Safe and profitable trading
Trade active
Correct assessment - retested the 2739 area then increased sharply.
110 pips for accurate trend drawing
Order cancelled
+ 40 pips profit from entry sell 2753-2756Trade active
Gold price is currently sideways around 2750-2760 during the European session. Upward momentum is dominant - the 2755 resistance zone is strongly contestedTrade closed: target reached
60 pips from entry sell plan day 2753-2756Trade active
+ 130 pips, amazing sell plan day 2753-2756Trade closed: target reached
+ 245 pips , crazy signal plan day sell 2753-2756Trade active
+ 300 pips , signal PLAN DAY SELL 2753-2756, FULL TP Trade closed: stop reached
Today's plan is great - gold price can hold ATH 2758 for quite a long time. Trading around 2710-2730 sideway
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