📝Tuesday Gold Trading Recap M5 model, the first-wave short on a black screen successfully captured full profit.
Plan 4340 and 4330 to scale in long orders; both positions will exit at 4315 stop loss.
Tuesday market: During the Asian session, price surged to 4375 and then pulled back; in the European session, it probed down to the 4291 low. In the US session, there was wide-range consolidation. Overnight, it rebounded to 4371. On the daily chart, it closed with a near-candle with a lower shadow. The total daily range was 846 points.
Fed officials were more hawkish; strong employment data weighed on gold prices. US-Iran diplomatic contacts cooled risk sentiment, but negotiations still have disagreements, while buy-side support remains strong below.
Today’s market: MACD cross down on the H4 and H1 timeframes indicates short-term consolidation.
Supports: 4320 / 4290; Resistances: 4375 / 4400.
Intraday idea: Buy on pullbacks. Wait for scale-in longs at 4320 and 4300, take profit 150–250 points, and set stop loss at 4290.
Key focus today: PMI data from multiple countries, EIA crude oil inventories, and speeches by officials from various countries.
$XAU
Plan 4340 and 4330 to scale in long orders; both positions will exit at 4315 stop loss.
Tuesday market: During the Asian session, price surged to 4375 and then pulled back; in the European session, it probed down to the 4291 low. In the US session, there was wide-range consolidation. Overnight, it rebounded to 4371. On the daily chart, it closed with a near-candle with a lower shadow. The total daily range was 846 points.
Fed officials were more hawkish; strong employment data weighed on gold prices. US-Iran diplomatic contacts cooled risk sentiment, but negotiations still have disagreements, while buy-side support remains strong below.
Today’s market: MACD cross down on the H4 and H1 timeframes indicates short-term consolidation.
Supports: 4320 / 4290; Resistances: 4375 / 4400.
Intraday idea: Buy on pullbacks. Wait for scale-in longs at 4320 and 4300, take profit 150–250 points, and set stop loss at 4290.
Key focus today: PMI data from multiple countries, EIA crude oil inventories, and speeches by officials from various countries.
$XAU
