xauusd market 2611 target possible HELLO TRADERS WHAT ABOUT THINK GOLD? MY ANALYISIS GOLD TARGET 2611 SO BI ALERT AND SEE MY TARGET STOPLOSS SET TRADE 2635 Here's a summary of your updated XAU/USD trade plan:
Trade Plan
- Entry Point: 2628 (current)
- Target: 2611
- Stop-Loss: 2635
Market Analysis
The XAU/USD is experiencing a minor correction, driven by a short-term strengthening of the US dollar.
Technical Analysis
- RSI Indicator: The Relative Strength Index (RSI) is below 50, indicating a short-term bearish momentum.
- Moving Averages: The 50-day moving average is trending downwards, supporting the bearish view.
- Resistance Levels: The resistance levels at 2635 and 2640 could provide a selling opportunity in case of a bounce.
Risk Management
- Risk-Reward Ratio: Your risk-reward ratio is approximately 1:1.7, which is relatively conservative.
- Position Sizing: Make sure to adjust your position size according to your risk tolerance and account size.
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