GOLD TRADING SCENARIO ON MAY 6, 2024:
Gold / U.S. Dollar FOREXCOM:XAUUSD
CTFX_Fintech
GOLD TRADING SCENARIO ON MAY 6, 2024:
Strategy 1. From now until 11:00 a.m. - 12:00 a.m. Gold returns to 2298, then Buy Gold right away. TP hopes to reach 2313, which is further than 2333, but there are conditions needed at 5:00 p.m. Gold closes above 2308, and vice versa. Gold closes below 2308, then exit Buy and move. Sell direction to 2291. Sell orders at this time can be held until 7:00 p.m. Gold breaks through 2303, then continue to hold into the American session. If not, exit the Sell order and switch to Buy. Gold exits at 2398, then Sell always hold the order into the American session until the destination is 2278 , beyond 2266 .
Strategy 2. From now until 11-12 a.m. when gold goes back up to 2321, Sell Gold will always reach 2300. The condition is that at 5 p.m., gold closes below 2313, keep the Sell order, and if it closes above 2313, take the opportunity to exit the Sell order and switch to Buy Gold at the price. The target is 2326 - the further TP is 2342 and at 7:00 p.m. Gold is still not over 2318, then Sell Gold immediately and still break 2318, then keep the Buy order in the US session - TP 2333, further than 2348.
Strategy 3. From 2:00 p.m. - 3:00 p.m., gold runs in the sideway 2306 - 2318, confirming to close above 2303, then Buy Gold to the target price of 2325. The condition is that at 7:20 p.m., if it breaks through 2311, hold the Buy order into the American session. At 2:00 p.m. - 3:00 p.m., confirming the close below 2318, Sell always holds until 2286. Gold confirms before 7:20 p.m. below 2300, then still holds the order to enter the American session.
NOTE: The analyzed price range may change slightly during price fluctuations, MN can be flexible. THIS IS A PERSONAL COMMENTARY THAT DOES NOT RECOMMEND INVESTMENT.
