GOLD/XAUUSD SHORT/SELL
🔰 Pair Name: GOLD/XAUUSD
🔰 Time Frame: 1H/4H
🔰 Scale Type: MID Scale
🔰 Direction: SHORT/SELL
Technical Analysis:
Over the last two days, GOLD/XAUUSD has completed its liquidity grab to the upside and retested the 23.6% Fibonacci level during the DXY dip yesterday. With the DXY retesting the 100.8 area this morning, the GOLD price seems poised to head downwards towards the 38.2% and 50% Fibonacci levels at the $1944-1937 area, aiming to fill the downside market imbalance.
Fundamental Analysis:
Considering the mix of ups and downs in July's economic data, there are potential implications for GOLD/XAUUSD. Weaker economic data, including declining retail sales and lower industrial production, may contribute to a weaker economy, potentially keeping inflation under control. On the other hand, stronger economic data such as higher consumer confidence and positive manufacturing PMI may support a stronger economy expansion, leading to potential inflationary pressures. 💹📈📉
Many traders are convinced that the Federal Reserve will raise interest rates again to target inflation closer to the Fed's 2% target. This expectation could significantly push down the price of GOLD/XAUUSD. However, it is crucial to note that continuously raising interest rates to curb inflation might also carry the risk of causing a recession. If interest rates are raised too aggressively, businesses and consumers might cut back on spending, leading to potential layoffs. 😟📈📉
A similar scenario occurred in 2006 when the Fed raised interest rates 17 consecutive times between June 2004 and June 2006, and there were concerns about inadvertently harming the economy with further rate hikes. 📈💼📉
As a trader, navigating this uncertain landscape can be challenging 😄. While we cannot predict the Fed's exact decisions, a prudent approach involves following the trend, employing proper risk management, pre-running market scenarios, and implementing reasonable stop-loss strategies to mitigate risks. 📊💡🛡
Please remember that trading involves substantial risks, and it is essential to carefully assess your risk tolerance before making any trading decisions. Good luck and happy trading! 🤞📈📉
🔰 Time Frame: 1H/4H
🔰 Scale Type: MID Scale
🔰 Direction: SHORT/SELL
Technical Analysis:
Over the last two days, GOLD/XAUUSD has completed its liquidity grab to the upside and retested the 23.6% Fibonacci level during the DXY dip yesterday. With the DXY retesting the 100.8 area this morning, the GOLD price seems poised to head downwards towards the 38.2% and 50% Fibonacci levels at the $1944-1937 area, aiming to fill the downside market imbalance.
Fundamental Analysis:
Considering the mix of ups and downs in July's economic data, there are potential implications for GOLD/XAUUSD. Weaker economic data, including declining retail sales and lower industrial production, may contribute to a weaker economy, potentially keeping inflation under control. On the other hand, stronger economic data such as higher consumer confidence and positive manufacturing PMI may support a stronger economy expansion, leading to potential inflationary pressures. 💹📈📉
Many traders are convinced that the Federal Reserve will raise interest rates again to target inflation closer to the Fed's 2% target. This expectation could significantly push down the price of GOLD/XAUUSD. However, it is crucial to note that continuously raising interest rates to curb inflation might also carry the risk of causing a recession. If interest rates are raised too aggressively, businesses and consumers might cut back on spending, leading to potential layoffs. 😟📈📉
A similar scenario occurred in 2006 when the Fed raised interest rates 17 consecutive times between June 2004 and June 2006, and there were concerns about inadvertently harming the economy with further rate hikes. 📈💼📉
As a trader, navigating this uncertain landscape can be challenging 😄. While we cannot predict the Fed's exact decisions, a prudent approach involves following the trend, employing proper risk management, pre-running market scenarios, and implementing reasonable stop-loss strategies to mitigate risks. 📊💡🛡
Please remember that trading involves substantial risks, and it is essential to carefully assess your risk tolerance before making any trading decisions. Good luck and happy trading! 🤞📈📉
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If a 1-hour candle closes with a long upside wick and the candle body is within the supply zone, it could potentially indicate a liquidity trap for more downside movement.🕯 A long upside wick represents a significant upward price rejection during the hour, showing that buyers attempted to push the price higher but failed to sustain the momentum.
📈 The candle body being within the supply zone suggests that sellers were active and were able to push the price back down from the higher levels.
📉 This combination of a rejected upward move and active selling within the supply zone creates a potential liquidity trap, as traders who placed long positions might now be stuck and looking to exit at breakeven or with minimal profit.
📉💼 If more traders start to exit their long positions, it could lead to increased selling pressure, potentially pushing the price further down, creating a downside movement.
📉🚨 Traders should be cautious and consider this liquidity trap scenario when analyzing the market and managing their positions to avoid potential losses in such situations.
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