The bears are strong at the end of the year! H1 downtrend
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
Gold (XAU/USD) dropped over 3% on Monday, wiping out much of last week’s strong rally, which had marked its best performance since March 2023. The decline was driven by Scott Bessent's nomination as US Treasury Secretary and reports suggesting Israel was nearing a ceasefire with Hezbollah in Lebanon, sparking a global risk-on sentiment. This overshadowed slight weakness in the US Dollar and pressured the precious metal.
However, the decline paused near the $2,600 level during the Asian session on Tuesday as renewed safe-haven demand emerged following President-elect Donald Trump’s tariff threats. Even so, expectations of a less dovish Federal Reserve, rising US Treasury yields, and renewed USD strength may limit gold’s recovery. Traders now await the release of the FOMC meeting minutes for further direction.
⭐️Personal comments NOVA:
The combination of many factors causes gold prices to almost certainly continue to decline: Fibo H1, seller liquidity, touching EMA, trendline H1
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2646 - $2648 SL $2651 scalping
TP1: $2640
TP2: $2630
TP3: $2620
🔥SELL GOLD zone: $2688 - $2690 SL $2695
TP1: $2675
TP2: $2660
TP3: $2650
🔥BUY GOLD zone: $2607 - $2605 SL $2600
TP1: $2615
TP2: $2622
TP3: $2630
⭐️Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.
⭐️NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
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