HL-TradingForex

Dear traders! Gold broke horizontally as mentioned and rose sharply after yesterday's news and reached 2365. As of now, gold is relatively stable below the resistance level of 2365 with sellers actively holding the price in the context of correction. But! On the chart, we identify that the market is gradually forming a classic cup with handle. Therefore, we can look for any retracement opportunity to buy gold Ideal entry points: 2337 and 2335 Good luck with your trading!

Two plans to buy gold: A. Continue to increase B. Wait for the price to pull back to the support zone at 2325 if we see the price cannot go beyond this level anymore, we can buy gold Manage 2% for your account Long term target: 2365 for a big hit

Dear traders! BB is gradually narrowing after a long period of strong decline around the resistance area of ​​2342 and support area of ​​2300. Therefore, it is more reasonable to wait for the pullback to the resistance area as the price is sideways and above the border with support from SMA. Therefore, sell and target at 2300 USD. Stop loss is at 2345 to help protect your account optimally.Trade active

Hey dear traders! Personally, I (HL-TradingForex) am seeing a sell setup in gold that is slowly forming a head and shoulders pattern as we start trading in the new week. If the bulls’ efforts from the 2318 support zone fail to break the $2340 resistance, we can prioritize sell strategies from the 2329-2331 resistance zone and SL at 2343. Target 2300, as the technical outlook is negative as breaking this support level has a huge liquidity zone below. Do you agree with my analysis? New week gold selling strategy!Trade activeComment:

Dear Traders! Overall, the parallel bullish channel has been broken. And buyers are struggling to break above the resistance at 2337 as there are two large liquidity zones that the price needs to retest as mentioned on the 1-hour chart. The price is now heading towards the channel resistance at $2335. But the precious metal is still struggling to break above it as the current outlook is negative. As the next direction for gold prices is still in the hands of the US Personal Consumption Expenditures inflation data. If the inflation data shows that the price pressure is slowing down, Gold prices may regain momentum as the US Dollar will come under strong selling pressure due to increased bets on a rate cut in September. Conversely, the US Dollar may extend its recent gains and put pressure on Gold prices if the data surprises to the upside. Personally I am bullish on gold pulling back to the resistance zone, from which price could fall as indicated on the hourly chart. If short term sell target is at 2300, stoploss at 2345. Good luck with your trading.Trade activeComment: Gold prices maintain their constructive bias around $2,330 after US inflation readings gauged by the PCE matched consensus in May and US yields advance slightly across the curve.Comment: