Negative signal covers the whole gold market

Smart investment, Strong finance

GOLDEN INFORMATION:
During the Asian session on Friday, the price of gold is trading higher at around $1,890 per troy ounce. This marks a recovery for gold after experiencing losses for four consecutive weeks. The rebound in gold price can be attributed to the weakening of the US dollar.

However, there is still a possibility that sellers may become more active due to various factors such as increased risk aversion in the market, stronger US Treasury yields, and ongoing economic challenges faced by China. These factors could potentially counteract the positive impact of the retreat of the US dollar and affect the overall trajectory of gold price.

Personal comments NOVA:
Gold price had a breakout time of $1890, tending to retest the 1900 area once, but perhaps next week the price will continue to fall deeply.

SET UP GOLD PRICE:
BUY GOLD zone: $1886 - $1884 SL $1875
TP 1: $1892
TP2: $1900

SELL GOLD zone: $1899 - $1902 SL $1910
TP1: $1890
TP2: $1882

Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL 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
- The winner is the one who sticks with the market the longest

Bình luận:

A day without volatility, after a series of downtrend signs, the price is sideway around the 1890-1900 mark

Bình luận:

Sideway market last session of the week, can use Scalping orders today

Giao dịch đang hoạt động:

The price is moving towards the entry zone 1884-1886. Let's wait for the end of the week session