XAUUSD Areas of Interest
Here are my areas of Interest for Gold - I have marked and given the prices where I will be looking for reversals. I only ever enter trades when I see clear reversals from these areas. I won't enter unless I see a shift of momentum on the smaller time time frame (1-15m for entries) for good risk/reward.
With the elections coming up, Gold could be a spicy one - so it's worth setting alerts and keeping an eye on these areas. I wouldn't recommend trading on the actual election day, though.
If Joe Biden wins the US presidential election, the US stock market (#WallStreet) will fall and the US dollar(#USD) will weaken against the other currencies, so we could see some manipulation on the Dollar before the elections (maybe strength) which will bring Gold down.
However, I have a sneaky feeling that Trump will get back into office again - which will shake up the market as Biden is poll favourite.
With the elections coming up, Gold could be a spicy one - so it's worth setting alerts and keeping an eye on these areas. I wouldn't recommend trading on the actual election day, though.
If Joe Biden wins the US presidential election, the US stock market (#WallStreet) will fall and the US dollar(#USD) will weaken against the other currencies, so we could see some manipulation on the Dollar before the elections (maybe strength) which will bring Gold down.
However, I have a sneaky feeling that Trump will get back into office again - which will shake up the market as Biden is poll favourite.
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