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Gold: XAU/USD Simple Trading Plans

Chinese Gold holdings and a willingness for Central Banks to obtain Gold has caused a larger demand and ultimately a higher price over a longer period.

As of late, this sentiment has not particularly relented, higher treasury yields in the US have stymied this rally.

A) From a Tech perspective you are at a key long zone (look at the last hits on this level) however there is a decay in impetus, and a lack of fuel driving a push and rejection.

I would not particularly like it long for this reason, unless you can fall lower to key entry levels.

B) Sentiment at this point is slightly mixed. Awaiting clear directional bias (likely to come on a rash move either way).

Any shorts back at highs will be light. Gold has largely lost its pegged sentiment and does not rise/fall exactly inline with USD.

It used to be the case that it was just clearly a safe haven asset, now, sentiment backing gold is incredibly mixed. So it's better just to wait for a clear move up/down and read why it is happening for one reason.

註釋

Exit any longs from today. Early PA / Weak push.

註釋

And avoid new shorts^

註釋

Slight Gold fall brings us to early support MID Sideways channel. Only the lightest of longs are applicable here ideally.

註釋

Any shorts, make them incredibly light.