SCALPING GOLD ! Downtrend trendline, confluence 2638
⭐️Smart investment, Strong finance
⭐️GOLDEN INFORMATION:
The US Dollar’s (USD) retreat from its highest level since November 2022, reached last Thursday, along with ongoing geopolitical risks and trade war concerns, may help cushion gold prices. Additionally, traders are likely to remain cautious and avoid taking strong positions ahead of key US economic data this week, including Friday’s Nonfarm Payrolls (NFP) report. Furthermore, the release of the December FOMC meeting minutes on Wednesday is expected to significantly impact USD trends and provide fresh direction for XAU/USD.
⭐️Personal comments NOVA:
Downtrend at the beginning of the week, gold price formed a DOW bar on short-term M15, M30 frames. Waiting for retest entry to sell 2638
⭐️SET UP GOLD PRICE:
🔥SELL GOLD zone: $2638 - $2640 SL $2643 scalping
TP1: $2634
TP2: $2628
TP3: $2620
⭐️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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