recovery but not strong enough - maintain within trend line

5月8日

🔔🔔🔔Gold news:

➡️ Gold prices attracted fresh buyers on Thursday, recovering some of the previous day's losses after hitting a two-week high. The market's initial reaction to the Fed pausing its hawkish policy on Wednesday proved short-lived, as growing economic uncertainty over Trump's trade policies put dollar bulls on the defensive. Meanwhile, headlines suggest that US and Chinese trade delegations are expected to meet in the coming days to ease tensions

Personal opinion:
➡️ Gold prices are recovering to 3400, indicating that the uptrend is still in effect, however, the upcoming US-China negotiations may make it difficult for gold prices to increase sharply

➡️ Analyze based on resistance - support levels and trend lines combined with RSI to come up with a suitable strategy

Personal Plan:
🔆Price Zone Setup:

👉Sell Gold 3424 - 3427
❌SL: 3430 | ✅TP: 3420 - 3415 - 3410

👉Buy Gold 3363 - 3360
❌SL: 3356 | ✅TP: 3367 - 3372 – 3377

FM wishes you a successful trading day 💰💰💰

5月8日

交易开始

Personal plan
hit + 60 pips from Buy 3360
Gold has broken out to 3360 and created a downward momentum today, the reason could be a positive US-UK trade agreement that caused the gold price to decrease.

5月8日

交易结束：到达目标

Positive trade talks have sent gold prices into a bearish trend, the 3360-3370 zone has been broken down and confirmed a short-term downtrend for Gold.