Continue to build a gold price reduction model! SELL GOLD

✍️ NOVA hello everyone, Let's comment on gold price next week from 25 - 30/9/23

🔥 World situation:
After reaching a weekly low of $1913.99, the price of gold has experienced a slight recovery, but it is still struggling to surpass strong resistance around the 50-day moving average (DMA) at $1929.79. The upward movement in XAU/USD's price can be attributed to factors such as declining US T-bond yields and an optimistic market sentiment. Currently, the spot price stands at $1924.56, with gains of 0.25%.

Despite the presence of a solid US Dollar, gold prices continue to rise due to the reversal in US bond yields. The coupon for the US 10-year benchmark note has reversed from its 16-year high of 4.51% and now hovers around 4.44%. As a result, real yields in the United States have slightly decreased by five basis points from 2.11% to 2.06%.

🔥 Identify:
Gold price is still forming a pattern of decreasing resistance and support in the H4 frame and the decreasing trendline in the D1 frame is increasingly clear. The improvement in US economic parameters in the second half of 2023 is the main impact on the falling price of gold.

🔥 Technically:
Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows:

Resistance: $1936, $1950
Support : $1915, $1902, $1885

Still prioritizing the downtrend next week

🔥 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
- The winner is the one who sticks with the market the longest

Kommentar:

There is no important news on the first Monday of the week, the gold price will continue to sideways in a narrow range from 1917 to 1930.

Kommentar:

Starting the week with a slight price decrease, today the price has a main sideways trend

Trade ist aktiv:

SET UP GOLD PRICE:

BUY GOLD zone: $1916 - $1914 SL $1910
TP 1: $1920
TP2: $1925

SELL GOLD zone: $1925 - $1927 SL $1931
TP1: 1920
TP2: 1914

Kommentar:

+ 25 pips , from signal SELL 1927

Kommentar:

+ 60 pips , from entry SELL 1927

Kommentar:

+ 110 pips , from entry SELL 1927

Trade ist aktiv:

Gold price assessment today: September 26, 2023

SET UP GOLD PRICE:

BUY GOLD zone: $1910 - $1912 SL $1907( scalping )
TP 1: $1915
TP2: $1918
TP3: $1922

SELL GOLD zone: $1922 - $1925 SL $1935
TP1: 1917
TP2: 1914
TP3: 1910


SELL GOLD zone: $1930 - $1932 SL $1935
TP1: 1925
TP2: 1920
TP3: 1910

Kommentar:

+ 55 pips , from entry BUY 1910

Kommentar:

Currently, the price is still struggling around the 1900 resistance area. If the price can break today, it can be set up:

Buy 1897-1895 SL 1892

TP: 1900, 1905, 1910

Kommentar:

Currently, the price has moved towards the 1900 price range, correcting the trend and waiting for a short-term recovery

Kommentar:

+ 30 pips scalping , from entry BUY 1895.8

Trade ist aktiv:

The sharp price drop hit the monthly support. Nova will give a BUY signal in this area

BUY gold : 1871-1869 SL 1866

TP: 1875, 1880

Trade ist aktiv:

XAU commentary update: 9/28/23

SET UP GOLD PRICE:

SELL GOLD zone: $1884 - $1886 SL $1894
TP1: 1880
TP2: 1869
TP3: 1854

SELL GOLD zone: $1902 - $1905 SL $1915
TP1: 1896
TP2: 1890
TP3: 1885

Kommentar:

Prices continued to fall sharply to the 1860 area. Fear engulfed the market, anxiously awaiting the FED meeting.

Kommentar:

SET UP GOLD PRICE:

BUY GOLD zone: $1858 - $1860 SL $1850
TP1: $1864
TP2: $1868
TP3: $1872

SELL GOLD zone: $1872 - $1875 SL $1882
TP1: 1868
TP2: 1864
TP3: 1860

Kommentar:

+ 30 pips , from entry SELL 1874

Kommentar:

+ 65 pips , from entry 1874, close signal