💡 XAUUSD: Gold suddenly reversed and increased sharply

➡️ After yesterday's sharp decline followed by a rebound, H1 gold is once again showing an upward trend, as it closed above its most recent high. However, the most recent H1 gold bar closed above the upper Bollinger Band, suggesting that the price may have entered an overbought territory, increasing the likelihood of a pullback rather than a continued advance. Given that D1 gold is approaching the 2,000 level, it would be prudent to wait for a retest before entering a long position in H1 gold.

✔️- Today's H1 trend: Increase
✔️- Buy Limit Strategy - TP: 2000

Commentaire:

➡️Adrian Day, the Chairman of Adrian Day Asset Management, anticipates minimal fluctuations in gold prices for the upcoming week. He notes that, following a significant price surge in the previous trading week, gold is susceptible to the impact of adverse news. However, he suggests that the limited availability of significant information in the coming week might mitigate substantial changes in the precious metal's price.

Transaction en cours:

SELL +60pips ✔️✔️✔️

Commentaire:

Gold turned down after the failed breakout signal, but you can see that the price did not decrease much more, just as the price hit the support area around 1965 of the current uptrend and then bounced back up, this shows that That buyers are reacting so well to support is a signal that the market is following a typical bullish structure.

Commentaire:

RUNNING BUY . COMING 2000 ✔️✔️✔️

Commentaire:

DONE BUY ✔️✔️✔️

Commentaire: