IMPORTANT NOTE:
It is important to stay vigilant during the FOMC statement and press conference, as they could significantly impact gold trading. Keeping the aforementioned trading plans in mind could help navigate this volatile market successfully. As always, traders should exercise caution and utilize risk management strategies when trading gold.
Use Stoploss.
Close half trades & Trail your stop losses after achieving half of your targets.
Trading Plan 1: Sell Gold Near 1955-1963
According to our analysis, if gold holds below the range of 1955-1963, it would be a valid selling pattern. The targets for this scenario would be 1925 and 1886. However, it is crucial to keep in mind that if gold breaks and closes in H1 and H4 timeframe above 1966, this selling pattern would be invalid, and it would be necessary to close all trades.
Trading Plan 1: Sell Gold Near 1955-1963
If gold closes in H1 and H4 timeframe above 1966$ per try ounces, it would provide an opportunity for buying. In this scenario, the targets would be 1988$ per ounces.
It is important to stay vigilant during the FOMC statement and press conference, as they could significantly impact gold trading. Keeping the aforementioned trading plans in mind could help navigate this volatile market successfully. As always, traders should exercise caution and utilize risk management strategies when trading gold.
Use Stoploss.
Close half trades & Trail your stop losses after achieving half of your targets.
Trading Plan 1: Sell Gold Near 1955-1963
According to our analysis, if gold holds below the range of 1955-1963, it would be a valid selling pattern. The targets for this scenario would be 1925 and 1886. However, it is crucial to keep in mind that if gold breaks and closes in H1 and H4 timeframe above 1966, this selling pattern would be invalid, and it would be necessary to close all trades.
Trading Plan 1: Sell Gold Near 1955-1963
If gold closes in H1 and H4 timeframe above 1966$ per try ounces, it would provide an opportunity for buying. In this scenario, the targets would be 1988$ per ounces.