XAU#8+ : Multi-frame analysis GOLD: Price traps soon
💎 💎 💎 Plan #7 first helps you make a profit. Please like and follow the channel to follow the earliest trading plan 💎 💎 💎
🔥 Yesterday was the last day of the new year in my country, so I was quite busy and could not update trading plan #8. Today, let's check the trend of GOLD🔥
1️⃣ **Fundamental analysis:**
📊 The US dollar index DXY has increased by nearly 30 points in the short term, non-US currencies have decreased. This is partly the cause of the recent correction wave. However, the financial market's concern about a "mild recession" from Trump's policies is still present. This led to a recovery shortly afterwards
🔴Fed expects to keep interest rates steady, taking time to assess the impact of Trump's policy. 97.3% probability that the Fed will leave interest rates unchanged this week
2️⃣ **Technical analysis:**
🔹 **D frame:** Yesterday marked a recovery after the previous adjustment day
🔹 **H4 frame:** Structurally,
🔹 **H1 frame:** The price structure changed from bullish to bearish. The price has returned to test the resistance area. The price reaction in this area will determine the direction of gold.
3️⃣ **Trading plan:**
⛔ The current price is in an important resistance area that is not suitable for entering orders. The best buying zone is the area where the price structure appears at 2745 as you can see. Remember that the main trend is still up, but the structural breakdown in the H4 frame is showing us a forecast for a short correction. The current price zone will be the confirmation zone for this forecast
✅According to personal experience, I will wait for an entry when the price returns to an important support or resistance zone. Entering an order in this area is no longer good for the R:R ratio and the failure rate is also high. Looking at the price structure, to be able to break this resistance zone, we will need a correction to gain momentum. Otherwise, there is a high possibility that we will witness a false breakout of this area to attract FOMO gamblers. Be patient and wait for the opportunity.
💪🚀 **Wish you successful trading!**
📌 For any questions, please contact directly. I am ready to answer you for free
🔥 Yesterday was the last day of the new year in my country, so I was quite busy and could not update trading plan #8. Today, let's check the trend of GOLD🔥
1️⃣ **Fundamental analysis:**
📊 The US dollar index DXY has increased by nearly 30 points in the short term, non-US currencies have decreased. This is partly the cause of the recent correction wave. However, the financial market's concern about a "mild recession" from Trump's policies is still present. This led to a recovery shortly afterwards
🔴Fed expects to keep interest rates steady, taking time to assess the impact of Trump's policy. 97.3% probability that the Fed will leave interest rates unchanged this week
2️⃣ **Technical analysis:**
🔹 **D frame:** Yesterday marked a recovery after the previous adjustment day
🔹 **H4 frame:** Structurally,
🔹 **H1 frame:** The price structure changed from bullish to bearish. The price has returned to test the resistance area. The price reaction in this area will determine the direction of gold.
3️⃣ **Trading plan:**
⛔ The current price is in an important resistance area that is not suitable for entering orders. The best buying zone is the area where the price structure appears at 2745 as you can see. Remember that the main trend is still up, but the structural breakdown in the H4 frame is showing us a forecast for a short correction. The current price zone will be the confirmation zone for this forecast
✅According to personal experience, I will wait for an entry when the price returns to an important support or resistance zone. Entering an order in this area is no longer good for the R:R ratio and the failure rate is also high. Looking at the price structure, to be able to break this resistance zone, we will need a correction to gain momentum. Otherwise, there is a high possibility that we will witness a false breakout of this area to attract FOMO gamblers. Be patient and wait for the opportunity.
💪🚀 **Wish you successful trading!**
📌 For any questions, please contact directly. I am ready to answer you for free
บันทึก
🔹 **H4 frame:** Structurally, H4 is still in an uptrend. However, the break of the 2736 area is showing a warning of a correction.
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Welcome to “Trading for Newbie” – where your successful financial journey begins!
Are you new to the financial markets? Don’t worry! We are here to help you.
Are you new to the financial markets? Don’t worry! We are here to help you.
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