GOLD ANALYSIS OCTOBER 27: TRADING CAUTION
💯GOLD PLAN UPDATE DAILY: October 27
👉 Gold prices increased slightly during Thursday's trading session. Data from the US “paints a picture of a very strong economy”, raising the possibility that the Fed could raise interest rates again, putting gold at a disadvantage but the problem of Middle East risks let go of the pressure from this data.
👉 Many investors believe that the stability of the economy means the Fed may have to keep interest rates higher for longer to bring inflation to its 2% target. Such an interest rate outlook is likely to cause 10-year US Treasury bond yields to continue to rise in the coming sessions, putting downward pressure on gold prices.
👉 After the US GDP report, investors' focus will turn to new US inflation data, with the personal consumption expenditure price index (PCE) expected to be announced by the Ministry of Commerce this evening. now.
👉 Yesterday's plan had AE winning the Sell bet of 190 pips. Today I will still give priority to Buy orders, AE, gold is now strongly influenced by news of geopolitical instability.
📌Today's trading plan:
🔽 Sell Gold Entry: 1994x – 1997x
SL 1999
TP 1985 - 1978
🔼 Buy Gold Entry: 1978x – 1976x
Sl 1973
TP 1983 – 1992 -2010
👉 Gold prices increased slightly during Thursday's trading session. Data from the US “paints a picture of a very strong economy”, raising the possibility that the Fed could raise interest rates again, putting gold at a disadvantage but the problem of Middle East risks let go of the pressure from this data.
👉 Many investors believe that the stability of the economy means the Fed may have to keep interest rates higher for longer to bring inflation to its 2% target. Such an interest rate outlook is likely to cause 10-year US Treasury bond yields to continue to rise in the coming sessions, putting downward pressure on gold prices.
👉 After the US GDP report, investors' focus will turn to new US inflation data, with the personal consumption expenditure price index (PCE) expected to be announced by the Ministry of Commerce this evening. now.
👉 Yesterday's plan had AE winning the Sell bet of 190 pips. Today I will still give priority to Buy orders, AE, gold is now strongly influenced by news of geopolitical instability.
📌Today's trading plan:
🔽 Sell Gold Entry: 1994x – 1997x
SL 1999
TP 1985 - 1978
🔼 Buy Gold Entry: 1978x – 1976x
Sl 1973
TP 1983 – 1992 -2010
Comment:
+320 pip form entry buy
