XAUUSD
Gold is currently testing a strong resistance zone. A clear breakout here could open the way for further upside, but if it rejects, we may see a correction toward the 3330 area. On the 4H chart, higher lows are building a bullish bias, though confirmation is still needed.
From a fundamental side, USD strength, Fed policy updates, and upcoming economic data will be key drivers. Traders using a forex funded account should be extra careful with risk management around these levels, since volatility can spike quickly.
GoldAlgo posted:
Gold-Algo here
looking at gold Daily, the price is stuck under a resistance that has been tested multiple of times and is still strong. however, the continuation of the higher lows and the push to the top with tighter and tighter legs seems the price insists on breaking that resistance.
on the 4H chart. the price has entered the block order and reacted to the 50% lever of the OB candle. right after is minimal reaction and move down, but with the strong push to the top and the bullish sentiment, the price might linger in the OB.
now in the 15M chart, if the price breaks the red line down and stay, can be confident and positive in a move down to 3330.
NOW, gold is very much affected and its actions are very much related to the news, China-Taiwan conflict, Russia-Ukraine war, Trump vs cook/FederalReserve news and... all these news, data, quotes, public speaks and tweets and... pushes gold up. so have it in mind that trading bearish is super risky.
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Global Gold Returns to Peak Amid Escalating US-China Tensions
The gold market has regained momentum at the start of the new week, and precious metals are once again experiencing an increase in demand.
The price of gold has risen by about 1% and has surpassed $4,060 per ounce. Although a brief profit-taking moment caused a slight price drop, buyers took the opportunity and, in light of recent developments between Washington and Beijing, re-entered the market.
The verbal clash between the two countries once again highlights the volatility and instability of US economic policies, while also demonstrating that Beijing will not back down in the trade war. This is clearly evident in China’s recent threat to impose tighter controls on the export of rare earth elements.
As a result, gold has once again emerged as the main beneficiary of this tense environment, reaching a new level of $4,077 per ounce just before the start of European trading.
Meanwhile, silver has also risen by more than 2%, crossing the $50 mark and reaching $51.54. Analysts believe this move could pave the way for a new growth trajectory for this precious metal.
#GOLD
Gold is moving too fast next it will touch 4500
Interesting, I was on recent tops, and I never saw such variation these last 2 days, central banks entered in game, but also crypto holders which are converting massively their assets into Gold, as volatility and moves has become more interesting.
Fro what I see, the variations are madness, and should just be a beginning... we will reach 5000 soon if US government is not unlocked soon... If unlocked, we will drop below 4000 in no time.
I recommend to all Gold traders to decrease their lot... to avoid larger DD than expected...
yoyo699 posted:Interesting, I was on recent tops, and I never saw such variation these last 2 days, central banks entered in game, but also crypto holders which are converting massively their assets into Gold, as volatility and moves has become more interesting.
Fro what I see, the variations are madness, and should just be a beginning... we will reach 5000 soon if US government is not unlocked soon... If unlocked, we will drop below 4000 in no time.
I recommend to all Gold traders to decrease their lot... to avoid larger DD than expected...
Wild swings these past two days 😳 Central banks + crypto holders moving into gold is making things crazy. Definitely cutting lot sizes here to avoid huge DD — this feels like just the beginning.
Based on your experience and knowledge, what do you consider to be the main challenges you face in trading: is it the lack of a solid stop-loss setup, difficulties in understanding your trading psychology, skills, capital, or consistency? How can I assist you in minimizing the recurrence of these issues in your trading activities for this year?
