Selling pressure covers the gold market! XAU

⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
The price of gold (XAU/USD) has been on a downward trend since the start of this week and dropped to its lowest point since March 10, reaching around the $1,858-1,857 range on Thursday. However, there is some relief as the US Dollar (USD) experiences a significant retreat from its 10-month high, which helps to limit the decline. Despite this, there is little interest in buying the commodity during Friday's Asian session. Additionally, concerns over an impending shutdown of the US government on October 1st that poses a risk to the economy and ongoing worries about China's struggling property sector provide some support for gold as a safe-haven asset.

⭐️Personal comments NOVA:
With continued positive GDP and Unemployment Claims news for the dollar, gold prices continue to decline. There are not many signs that prices will increase again. At the end of this week, the price tended to be sideways and had a slight upward momentum

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $1858 - $1860 SL $1850
TP1: $1864
TP2: $1868
TP3: $1872

🔥SELL GOLD zone: $1872 - $1875 SL $1882
TP1: 1868
TP2: 1864
TP3: 1860

⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

⭐️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

Commentaire:

+ 25 pips , from entry SELL 1974

Commentaire:

+ 55 pips , from entry SELL 1974