Middle East tensions are saturated, the FED is back on track

14 нояб. 2023 г.

Trading Session_ XAUUSD_ November 14
D1 and H1 chart​
1_Previous trading idea: Sell gold. The result broke even because gold closed the trading day in the sell zone.
H1 trend: gold moves sideways
2_Today's trading idea: Buy/Sell gold.
Analysis:
D1: Gold had a rebound yesterday, but the narrow range compared to the previous decrease showed that the buying pressure was not strong. Because it just broke the previous bottom on Friday, D1 gold is still slightly higher in price.
H1: gold H1 creates a breakout - from the accumulation price range below, which could be the start of a price increase. However, the chart structure is still bearish. Today's scenario is to wait for another bounce and then pull back to retest before buying. If H1 gold is pushed to the old bottom, it is a signal of weakness and can switch to waiting to sell again.

also in frame H4
Downside Comment
In H4 at the end of yesterday's session, gold had a strong upward correction and stopped right after reaching the top of the Trendline area. Currently, the price is still sideways around the 1946-1948 area.
Traders can prioritize selling at the current price range when there is a reversal pattern to ensure safety.

+ENTRY SELL: 1946-1948(STOP: 1952)
+Target date: 1932
+Distant target: 1890