LuxeFX_Trading

Many educational resources suggest that in most cases, the bulls will win the battle and the price will break through the resistance level. However, based on our experience, this is not always the case. Sometimes the resistance zone is too strong and the buyers lack the strength to overcome it. Prices usually increase after breaking out of the pattern in the majority of cases. The point we want to make is not to fixate on which direction the price will move but to prepare for the price to move in either direction. In this scenario, we would place a buy stop above the upper resistance line and a sell stop below the ascending slope.

Many educational resources suggest that in most cases, the buying side will win the battle and prices will break through resistance. However, based on our experience, this isn't always the case. Sometimes, the resistance zone is too strong and the buying side lacks the strength to break through. Prices often move upwards after breaking the pattern in the majority of cases. The point we want to make is not to be fixated on which direction prices will move, but rather to be prepared for them to move in either direction. In this scenario, we will place a buy stop order above the upper resistance line and a sell stop order below the ascending slope line.

Examining the chart, we observe a MACD crossover, indicating a short-term price increase. However, the downward trend of the RSI suggests weak buying pressure. The crossing of the SMA and EMA lines creates a strong resistance zone. Based on these factors, I predict a decline in gold prices.

The price of gold has slightly declined below $2,355 during Wednesday's Asian trading session, following its recent record high of $2,366 on Tuesday.However, when looking at technical indicators such as the Bollinger Bands and the Relative Strength Index (RSI), it is evident that the market is still in an uptrend with no signs of a downturn.Observing the Bollinger Bands, we can see that the gold price continues to trade above these lines, indicating an ongoing upward trend. Additionally, the RSI is trading around the 50 level, indicating a balance between buying and selling pressure in the market. If the price continues to fluctuate around this 50 level and continues to trend upwards, it will be a positive sign, suggesting that gold's price uptrend will persist in the near future.

BTC Showing Bearish Signs on H1 Chart - Caution Advised for Futures Traders, Hold Steady for Spot Traders

This week, markets are closely monitoring the release of significant US inflation data. The inflation figures are expected to provide further insights into the Federal Reserve's interest rate cut trajectory and could serve as the next catalyst for gold prices.The US Consumer Price Index (CPI) for March will be published on Wednesday. According to economists' surveys, the overall US CPI for March is predicted to rise by 0.3% compared to the previous month, slightly lower than February's 0.4%; while the US core CPI for March is expected to increase by 0.3% compared to the previous month.Gold Price OutlookXAUUSDOn the daily chart, despite gold's correction from approaching the 1% Fibonacci extension level at $2,356, as highlighted in our weekly publication, it has found support from the 0.786% Fibonacci level and rallied back towards the $2,360level once again.A level tested multiple times implies the diminishing effect of that technical level. However, at present, the $2,360level still serves as the nearest notable resistance level.The primary trend of gold prices remains unchanged, with an upward trend indicated by all technical indicators. Expectations for a corrective decline should target short-term support around the $2,316 - $2,305 area, while protective positions should be placed behind the $2,360level.Throughout the day, the technical outlook for gold prices will be closely watched with the following price levels in focus.

Using the MACD method, it's evident that buying pressure in gold has weakened, with selling momentum increasing. The rising RSI indicates robust buying activity. Additionally, the recent Bollinger Band squeeze suggests impending volatility. Despite the price closely tracking the upper band, a retest towards the middle band seems likely.Gold price is fluctuating in the range of 2230-2360, I think gold needs a strong buying force to break out.Gold price is running close to the target

Gold undergoes a significant correction after a failed attempt to confirm its all-time high (ATH).A double top pattern emerges as a reversal signal, indicating potential downside with a correction target of 2266. For SELL positions, we recommend waiting for a re-test at the neckline around 2284.

The gold price currently surpasses the channel's upper margin, signaling a potential retracement. With robust support at $2195, a pullback is anticipated.Gold prices are influenced by a multitude of factors, making it a dynamic asset class in the financial markets. These factors include economic data releases, geopolitical tensions, movements in the US dollar, inflation expectations, and central bank policies. As a traditional safe-haven asset, gold often sees increased demand during times of uncertainty or market turbulence. Investors and traders closely monitor these factors to gauge the direction of gold prices and make strategic investment decisions.The price is going according to my ideas

Due to today's BTC sale could test 60K level. BTC today broke the important support level of the rising trendline. Need to claim it back soon otherwise 60k is unavoidable.BTC retested in the $63,000-66,000 range and then reboundedI think BTC will reach $74000 soonI think we should wait a few more candles before entering the order