HELLO TRADERS WHAT ABOUT THINK GOLD? MY ANALYISIS GOLD TARGET 2611 SO BI ALERT AND SEE MY TARGET STOPLOSS SET TRADE 2635 Here’s a summary of your updated XAU/USD trade plan:
Trade Plan
– Entry Point: 2628 (current)
– Target: 2611
– Stop-Loss: 2635
Market Analysis
The XAU/USD is experiencing a minor correction, driven by a short-term strengthening of the US dollar.
Technical Analysis
– RSI Indicator: The Relative Strength Index (RSI) is below 50, indicating a short-term bearish momentum.
– Moving Averages: The 50-day moving average is trending downwards, supporting the bearish view.
– Resistance Levels: The resistance levels at 2635 and 2640 could provide a selling opportunity in case of a bounce.
Risk Management
– Risk-Reward Ratio: Your risk-reward ratio is approximately 1:1.7, which is relatively conservative.
– Position Sizing: Make sure to adjust your position size according to your risk tolerance and account size.
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xauusd market 2611 target possible
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