Scalping! XAU! Waiting for gold price to BREAK from trendSCALPING XAU / USD
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold price (XAU/USD) stays under pressure during the early European session on Wednesday but manages to hold above the one-week low reached the previous day, showing limited follow-through selling. Expectations of a less dovish Federal Reserve (Fed) continue to support higher US Treasury bond yields, creating headwinds for the non-yielding yellow metal. However, USD bulls appear cautious, holding off on making strong moves ahead of the pivotal FOMC decision.
⭐️Personal comments NOVA:
Moving sideways in 2 trendlines, M30. Leaning towards breaking the uptrend and waiting for today's interest rate cut results.
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2645 - $2643 SL $2640 scalping
TP1: $2650
TP2: $2655
TP3: $2660
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account