Dow Theory has formed, continue to increase, target 3397

4 giu

🔔🔔🔔Gold news:

➡️Gold prices surged from the 3350 area to around $3,375, supported by renewed selling pressure on the U.S. dollar following the release of disappointing ADP and PMI data from the United States.

➡️Meanwhile, U.S. President Donald Trump and Chinese President Xi Jinping continued to trade accusations. Trump said it would be "extremely difficult" for Xi to reach a deal, while Chinese Foreign Minister Wang Yi urged the U.S. to "meet China halfway."

Personal opinion:
➡️ Gold prices will continue to rise after bad news from the U.S. economy. In addition, President Trump's move to increase tariffs further complicates the situation.

➡️ Analysis based on important support resistance and Fibonacci levels combined with Dow Theory to come up with a suitable strategy

Personal Plan:
🔆Price Zone Setup:

👉Buy Gold 3365 - 3368
❌SL: 3361 | ✅TP: 3372 – 3377

👉Sell Gold 3400 - 3397 (Scalping)
❌SL: 3404 | ✅TP: 3393 – 3389

FM wishes you a successful trading day 💰💰💰

5 giu

Trade attivo

Personal plan:
Hit + 100 pips from sell 3400

setup successful

5 giu

Trade chiuso: obiettivo raggiunto

Personal plan:
Hit + 150 pips from Buy 3368
+70 pips from Buy 3365

setup successful
both buying and selling are profitable