Gold price plummeted after Oil and War changes

Gold is also under pressure as funds flow back into many stock markets following the reduced political risk in Russia.

However, the Russia-Ukraine conflict still carries significant risks, which is a positive factor for gold.

In addition, many countries are shifting their monetary policies from tightening to easing in order to revive their economies. These actions also contribute to the upward movement of various commodities, including gold.

Gold is still considered a safe haven in the face of resurging inflation.

In the long term, gold is still forecasted to rise as the Fed reverses its monetary policy (potentially from 2024), leading to a decline in the USD.

TRADE STRATEGY FORECAST:

SELL XAUUSD AROUND THE PRICE RANGE OF 1926-1930

Stop Loss: 1936
Take Profit 1: 1920
Take Profit 2: 1915
Take Profit 3: 1910

BUY XAUUSD AROUND THE PRICE RANGE OF 1900-1904

Stop Loss: 1896
Take Profit 1: 1915
Take Profit 2: 1920
Take Profit 3: 1925

Note: Trade with 1% of your account to ensure proper capital management. Do not risk more than 5% of your capital within the nearest 10 price levels.
Always set a stop-loss in every situation. Pay attention to trades based on your current capital.
line in the USD.

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Comment:

good strategy with rather correct analysis!