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Gold Spot / U.S. Dollar

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GOLD A trader who doesn't place an SL will eventually lose the entire account

XAUUSD Gold sell now 3333-3335

SL: 3343

TP: 3325
TP: 3315
TP: 3300
TP: OPEN

Risk management is important 🛡

GOLD Gold SeII now 3333
Take profit 3329
Take profit 3325
Take profit 3321
Stop loss 3340





XAUUSD Gold has had 2 sessions of recovery from the area around the 0.382% Fibonacci retracement, but the temporary upside momentum is still limited and does not qualify for a new bullish cycle.

In the short term, the EMA21 with the 0.236% Fibonacci retracement will act as the nearest resistance, if gold takes the price action to break above the 0.236% Fibonacci retracement level it will qualify for a new bullish cycle with the target then being around $3,400 in the short term, more so than $3,430.

On the other hand, with the current neutral trend, once gold is sold below the 0.382% Fibonacci retracement level again, it will have conditions to decline, and the target then is around 3,246 USD in the short term, more than the 0.50% Fibonacci retracement level.

The RSI index is hovering around 50, also showing that the market sentiment is still hesitant to have a specific direction.
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