Nova-Scalper

Gold heads below $2,300 ! XAU

Short
Nova-Scalper Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
⭐️Smart investment, Strong finance

⭐️GOLDEN INFORMATION:
Global gold demand growth is driven by increased over-the-counter market investment, continuous central bank purchasing, and heightened demand from Asian markets, especially China and India. This growth is reinforced by geopolitical tensions in the Middle East, leading to a preference for safe-haven assets like gold. Gold traders are anticipating fresh catalysts such as the US weekly Initial Jobless Claims due on Thursday and a speech by San Francisco Fed President Mary Daly. Dovish comments from Fed officials could stabilize gold prices for now.

⭐️Personal comments NOVA:
Gold price still moves in 2 trend lines, wide amplitude. There is still confidence that the Gold price needs to return to the entry area below $2,300. Long-term BUY in the H4 frame. The time for the FED to lower interest rates is getting closer and closer

⭐️SET UP GOLD PRICE:

🔥BUY GOLD zone: $2270 - $2268 SL $2263
TP1: $2278
TP2: $2284
TP3: $2292


🔥SELL GOLD zone: $2349 - $2351 SL $2356
TP1: $2340
TP2: $2330
TP3: $2320


⭐️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
Comment:
Gold price continues to react right at the $2,320 resistance area
Comment:
Gold price decreased around $2310, waiting for unemployment news today
Comment:
Gold price shows great selling pressure, the Downtrend prevails. Target 2300
Comment:
Gold price did not wait for the entry level of 2290, it rebounded strongly again

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