Gold is still in an Uptrend - waiting for a DOWN rhythm
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The price of gold began the week on a positive note, rising in early trading. This increase was primarily driven by the escalating conflict between Iran and Israel over the weekend. Concerned investors sought refuge in gold, a traditional safe haven, as they prepared for the new week after Iran's drones attacked Israel on Saturday evening.
The price of gold continues to be supported by market fears that Iran's unprecedented strike on Israel could lead to retaliatory actions. However, there is some comfort for the markets as the UK, France, and Egypt have condemned Iran's actions, and Saudi Arabia has called for restraint. This has helped to improve risk sentiment, creating a more favorable atmosphere in early Asian trading.
⭐️Personal comments NOVA:
Still within the two upward trend lines - buying volume is decreasing. Wait for a downward adjustment
⭐️SET UP GOLD PRICE:
🔥BUY GOLD zone: $2329 - $2327 SL $2322 scalping
TP1: $2335
TP2: $2340
TP3: $2350
🔥BUY GOLD zone: $2305 - $2303 SL $2297
TP1: $2312
TP2: $2325
TP3: $2335
🔥SELL GOLD zone: $2381 - $2383 SL $2388
TP1: $2370
TP2: $2360
TP3: $2350
⭐️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
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