GOLD TRADING SCRIPT WEEK 2 OF SEPTEMBER

Ending the first week of September after the NonFarm news,
Gold increased to retest the peak of 2529 but could not break the near resistance zone and fell sharply to 2485, recovering and closing the candle at 2498, so gold is still in the sideway range of 2475-2531, closing the candle of the first week of September
. Next week there will be many important economic data, such as the US CPI news, according to the forecast of 2.6% compared to the previous 2.9%, there is a high possibility that the Fed will lower interest rates by 0.25% this September. In addition, if new jobs and payrolls worsen, the Fed will likely lower interest rates by 0.5% in December 2024

* Regarding technical analysis, in the W frame, we clearly see that gold is sideways and accumulating strongly to break the new structure.
* In the D frame, gold has not yet broken out of the 2531 zone and has not broken out of 2478, so ACE should be very careful when sideways in the D frame. If Gold breaks out of the 253x resistance zone, you can Buy Gold. If Gold breaks out of the short-term support zone of 257x, Sell Gold without going against the trend. (It is recommended to close the D candle without counting the smaller frame and to trade with a high R:R ratio).
* In the H4 candle, there is a long red candle covering it, showing strong profit-taking force, but the possibility of a recovery to 2508-2511 before returning to 2491-2483-2475-2463 -2445-2408-237x.
The strategy for the next week will be to SELL the 2508-25011 area SL 2516 (if the short-term structure breaks, wait for 2528-2532 to SELL Gold) The gold plan this September is still to prioritize Sell to 2400-237x-229x to wait for BUY up.
Chart PatternsTechnical IndicatorsWave Analysis

免责声明