GOLD ANALYSIS 10/26: FOLLOW UP TREND
Updated
đź’ŻUPDATE DAILY GOLD PLAN:
👉 Gold prices rose in Wednesday's trading session due to continued conflict in the Middle East, while investors await US third quarter GDP data today and the personal consumption expenditures price index (PCE). ) of the US on Friday for more clues about the Fed's interest rate policy path. If interest rates are higher, it will increase the demand for holding gold.
“Geopolitical concerns will not go away anytime soon, and this will continue to support gold prices,” said Mr. Bob Haberkorn, senior market strategist at RJO Futures.
👉 Higher dollar and US 10-year Treasury bond yields also limited the precious metal's rise.
👉 China Gold Association said that in material terms, China's gold consumption in the first 3 quarters of 2023 increased by 7.32% over the same period last year due to increasing demand in the context of economic recovery.
👉 Yesterday's plan, AE lost the Sell bet of 50 pips, but in return won the Buy bet of 200 pips. Today I will give priority to Buy orders, AE
đź“ŚToday's trading plan:
đź”˝ Sell Gold Entry: 1992-1995
SL 1997
TP 1984 – 1970 -1962
🔼 Buy Gold Entry: 1962 - 1960
Sl 1957
TP 1970 -1991 -2019
👉 Gold prices rose in Wednesday's trading session due to continued conflict in the Middle East, while investors await US third quarter GDP data today and the personal consumption expenditures price index (PCE). ) of the US on Friday for more clues about the Fed's interest rate policy path. If interest rates are higher, it will increase the demand for holding gold.
“Geopolitical concerns will not go away anytime soon, and this will continue to support gold prices,” said Mr. Bob Haberkorn, senior market strategist at RJO Futures.
👉 Higher dollar and US 10-year Treasury bond yields also limited the precious metal's rise.
👉 China Gold Association said that in material terms, China's gold consumption in the first 3 quarters of 2023 increased by 7.32% over the same period last year due to increasing demand in the context of economic recovery.
👉 Yesterday's plan, AE lost the Sell bet of 50 pips, but in return won the Buy bet of 200 pips. Today I will give priority to Buy orders, AE
đź“ŚToday's trading plan:
đź”˝ Sell Gold Entry: 1992-1995
SL 1997
TP 1984 – 1970 -1962
🔼 Buy Gold Entry: 1962 - 1960
Sl 1957
TP 1970 -1991 -2019
Note
+ 40 pip entry 1993Note
+ 60 pip. out 75%!Note
+190 pip DOne TP
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