Gold is trapped in a bull flag before the FED Interest Rate!
Technically, Gold have been trapped in a bull flag since 22 July 2022, a clear violation of this bull flag will send price to 1760.
Fundamentally, The Federal Reserve is expected to raise interest rates by three-quarters of a point later today, its second hike in a row of that size. We are keen to learn of how the market will react to this. Definitely, Gold is one of the assets that will be affected in price dramatically.
Trading suggestion on Gold. On a technically standpoint, a clear violation of the bull flag traders can take short term buy positions to 1760 making sure that we are not trapped in trades before the big event as the market would be volatile by then.
It is also wise to wait for the Fed Rate hike release for the market to digest the information for clarity as to where the market would be headed to.
If you like this idea please be kind to leave a like. If you have any question please feel free to ask in the comment section below.
Trade smart
Fundamentally, The Federal Reserve is expected to raise interest rates by three-quarters of a point later today, its second hike in a row of that size. We are keen to learn of how the market will react to this. Definitely, Gold is one of the assets that will be affected in price dramatically.
Trading suggestion on Gold. On a technically standpoint, a clear violation of the bull flag traders can take short term buy positions to 1760 making sure that we are not trapped in trades before the big event as the market would be volatile by then.
It is also wise to wait for the Fed Rate hike release for the market to digest the information for clarity as to where the market would be headed to.
If you like this idea please be kind to leave a like. If you have any question please feel free to ask in the comment section below.
Trade smart
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