Buy Gold (Discussion) - If you have an opinion, share it!
Good morning everyone, this topic is not to define a target, but to communicate with other traders, I have a vision and would like opinions to create a discussion.
I am believing in a high in Gold which seems firmer than a low, some believe it will bounce to 2386 and go up, taking into account the US economy which is in trouble, there may be small dips but the macro trend is up , the micro trend would be good to start working after 50% but as today is Friday and the movements are light I believe it is possible to start small orders in favor of the macro trend with lot management to hold back possible reversals.
We have to take into account that the 2378.40 region is strong and the price always remains above it even with volume and strong downward attempts, which is considered whale manipulation, the correction that should have already happened today, now we just need to take into account the zone 2397.40 will dictate the macro movement.
The upward movement in precious metals in previous sessions was reinforced by weaker-than-expected US inflation data in April, which raised hopes of rate cuts from the US Federal Reserve (Fed).
Gold price is trading on a positive note on the day. According to the four-hour chart, the precious metal has formed an ascending trend channel since May 2.
We cannot forget the war now raging in Rafah, the US military chief for the Middle East traveled to Israel to discuss Gaza, with the US stating that it opposes a large-scale attack on Rafah.
And you, what do you think?
I am believing in a high in Gold which seems firmer than a low, some believe it will bounce to 2386 and go up, taking into account the US economy which is in trouble, there may be small dips but the macro trend is up , the micro trend would be good to start working after 50% but as today is Friday and the movements are light I believe it is possible to start small orders in favor of the macro trend with lot management to hold back possible reversals.
We have to take into account that the 2378.40 region is strong and the price always remains above it even with volume and strong downward attempts, which is considered whale manipulation, the correction that should have already happened today, now we just need to take into account the zone 2397.40 will dictate the macro movement.
The upward movement in precious metals in previous sessions was reinforced by weaker-than-expected US inflation data in April, which raised hopes of rate cuts from the US Federal Reserve (Fed).
Gold price is trading on a positive note on the day. According to the four-hour chart, the precious metal has formed an ascending trend channel since May 2.
We cannot forget the war now raging in Rafah, the US military chief for the Middle East traveled to Israel to discuss Gaza, with the US stating that it opposes a large-scale attack on Rafah.
And you, what do you think?
Trade closed: target reached