Gold Intraday For Thursday 10-08-23

THURSDAY 10-08-23, INTRADAY H1 TIME FRAME SETUP .When there is a high impact news (CPI a 3 Star News), we don’t trade at that time. We have a clear SOP {Save your equity first, profit comes later. Not trading is also a position having equity in your hand}. So, for the sake of entry, price needs to get into the range of 38.2% 1924 and 23.6% 1921 provided sma44 to intersect the price between this range. Note that this situation should happen at least one hour before the news to enter as sell and BE it ASAP. As the trend is still down and support at 1913 is broken at news time, we may visit 1903 (Where MACRO fibo 38.2% in Monthly TF is present). We may also experience a spike up towards 1933 previous support that has turned into resistance now but for this to happen, price should be hovering above 1919 provided news comes in RED, as the Gold has gone into oversold area and the formation of candlesticks of last few hours indicating a retracement towards above mention range. The range 1933 and 1903 depends on news impact coming as Green or Red. REMEMBER! DO NOT ENTER AT THE TIME OF NEWS IN ANY POSITION.

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