Gold price adjusts to DOWN trend ! NEXT WEEK
Atualizado
✍️ NOVA hello everyone, Let's comment on gold price next week from 7/22 - 7/26/2024
🔥 World situation:
Gold price dropped over 1.50% to around $2,400 on Friday, potentially resulting in nearly 1% weekly loss from its record high of $2,483. The XAU/USD stands at $2,399 after peaking at $2,447. This fluctuation is linked to China's underperforming economy and speculation of Donald Trump's election win strengthening the US Dollar, which is projected to close the week up by 0.26%.
🔥 Identify:
Gold price reached a new ATH 2482 this week - an inevitable downward adjustment, the price increase momentum is still very large when the FED is about to cut interest rates and world military tensions are still high.
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2434, $2460, $2482
Support : $2357, $2320
🔥 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
🔥 World situation:
Gold price dropped over 1.50% to around $2,400 on Friday, potentially resulting in nearly 1% weekly loss from its record high of $2,483. The XAU/USD stands at $2,399 after peaking at $2,447. This fluctuation is linked to China's underperforming economy and speculation of Donald Trump's election win strengthening the US Dollar, which is projected to close the week up by 0.26%.
🔥 Identify:
Gold price reached a new ATH 2482 this week - an inevitable downward adjustment, the price increase momentum is still very large when the FED is about to cut interest rates and world military tensions are still high.
🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:
Resistance: $2434, $2460, $2482
Support : $2357, $2320
🔥 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
Nota
Gold prices have shown to be a safe investment channel in recent years - reaching new ATHs. The war in the Middle East is still complicated - it is expected that gold will recover briefly at the beginning of the weekNota
DOWN trend below 2400 - Weekly plan is going in the right direction. + 110 pips , from 2401 , DOWN
Nota
Gold price is under selling pressure as Trump's chances of becoming president are increasing - the possibility of cutting interest rates soon is not supported by Trump.Nota
Gold price returned to the 2400 price range - retesting resistance after the break. Sideway creates large liquidity at this price rangeTrade ativo
PLAN DAY 7/23/2024
Personal comments NOVA:
Gold price is in a downward correction - sideways accumulation around the 2400 area. Wait for inflation data this week
SET UP GOLD PRICE:
BUY GOLD zone: $2384 - $2386 SL $2378
TP1: $2392
TP2: $2400
TP3: $2410
SELL GOLD zone: $2431 - $2433 SL $2438
TP1: $2422
TP2: $2410
TP3: $2400
Nota
Given these circumstances, the anticipation of a dovish Federal Reserve (Fed) stance is expected to curb potential declines in the non-interest-bearing Gold price. Indeed, market participants appear assured that the US central bank will initiate a reduction in borrowing costs come September, with two additional rate cuts anticipated by the end of the year. This prospect has instigated a new decrease in US Treasury bond yields, causing a defensive stance among US Dollar (USD) bulls and thereby providing support to the precious metal. Therefore, it would be wise to wait for further indications of selling before strategizing for a continuation of the recent retracement from the historic high.Nota
Gold price recovered to return to the $2410 - $2420 areaTrade ativo
PLAN DAY 7/24/2024
SET UP GOLD PRICE:
BUY GOLD zone: $2385 - $2383 SL $2378
TP1: $2390
TP2: $2395
TP3: $2400
SELL GOLD zone: $2432 - $2434 SL $2439
TP1: $2425
TP2: $2410
TP3: $2390
Nota
Gold price increased slightly back to the 2420 area before today's PMI news (July 24, 2024)Nota
+ 80 pips , signal PLAN DAY July 24 , SELL 2432-2434 . Resistance 2430Nota
Correct Downtrend - Short positions are becoming clearerTrade ativo
update: PLAN DAY 7/25/2024 : XAU
SET UP GOLD PRICE:
BUY GOLD zone: $2350 - $2352 SL $2345
TP1: $2360
TP2: $2370
TP3: $2380
SELL GOLD zone: $2410 - $2412 SL $2417
TP1: $2395
TP2: $2380
TP3: $2370
Nota
The downtrend still maintains in the H4 frame - touching the support zone 2350 -2355 is reactingNota
The bearish price reached the first target at support 2357 - then reacted to recover to the 2365 areaTrade ativo
update XAU / USD :
The price DECREASED to the support level: 2357, completing 2/3 of the target
The reaction recovered back to the 2380 area
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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