Global data/news
• Gold prices pared some gains on Tuesday as the dollar and bond yields rebounded after strong U.S. jobs data raised worries that the Federal Reserve would stick to its aggressive stance on interest rates for some time.
• Soybeans rose on hopes of more U.S. export sales to China, while protests were eyed in Brazil - including road blocks - after the presidential election.
Remarks
• Previous 1H resistance zone will became immediate support zone.
• Potential Bearish Butterfly harmonic pattern in 1H.
• 1H (20SMA crossing above 50SMA).
• 1H divergence with RSI
Short Term Trend : Sideways
Trading Plan:
• Short –
o Price breakdown 1H resistance zone. TP1:4190 TP2:4079 SL:4300
• Long –
o Price supported and maintain above 1H support zone. TP1:4160 TP2: 4340 SL:4140
o Price maintain above 1H resistance zone. TP1:4340 TP2:4450 SL:4250
Disclaimer: This is just my IDEA on the market, not a suggestion to open any trade. Please do not follow without any personal due diligence on the market.
• Gold prices pared some gains on Tuesday as the dollar and bond yields rebounded after strong U.S. jobs data raised worries that the Federal Reserve would stick to its aggressive stance on interest rates for some time.
• Soybeans rose on hopes of more U.S. export sales to China, while protests were eyed in Brazil - including road blocks - after the presidential election.
Remarks
• Previous 1H resistance zone will became immediate support zone.
• Potential Bearish Butterfly harmonic pattern in 1H.
• 1H (20SMA crossing above 50SMA).
• 1H divergence with RSI
Short Term Trend : Sideways
Trading Plan:
• Short –
o Price breakdown 1H resistance zone. TP1:4190 TP2:4079 SL:4300
• Long –
o Price supported and maintain above 1H support zone. TP1:4160 TP2: 4340 SL:4140
o Price maintain above 1H resistance zone. TP1:4340 TP2:4450 SL:4250
Disclaimer: This is just my IDEA on the market, not a suggestion to open any trade. Please do not follow without any personal due diligence on the market.
Trade closed: target reached:
market continue yesterday momentum, alternative long TP2 hit