🔥Gold/XAU plan for October... Can gold return to 4,400, or will it fall below 4,000 an ounce?
I bet many of you are wondering whether to buy or sell gold right now, right? Take a look at my plan for another perspective!
The 4,050–4,100 range is currently quite precarious within the uptrend channel of the past three months. If it picks up another 50 points of liquidity, a break below would likely signal a new low for gold.
However, this is also a potential entry zone, with a target of 4,300–4,400 this October (as shown in the image). There are two key things to watch: toward the end of October, we’ll be waiting for news on whether the Fed will raise or cut interest rates. Also, over the past month, the US dollar has been strengthening and yields have been favorable.
My trading plan is based on expecting the DXY to fall while XAU breaks through and sustains a recovery to the 4,300–4,400 range. You can consider entering at the levels above; the risk-to-reward ratio is also quite good, so you can size your position accordingly.
This is my personal view, for reference only. Leave your thoughts or join the discussion below. $XAUT
I bet many of you are wondering whether to buy or sell gold right now, right? Take a look at my plan for another perspective!
The 4,050–4,100 range is currently quite precarious within the uptrend channel of the past three months. If it picks up another 50 points of liquidity, a break below would likely signal a new low for gold.
However, this is also a potential entry zone, with a target of 4,300–4,400 this October (as shown in the image). There are two key things to watch: toward the end of October, we’ll be waiting for news on whether the Fed will raise or cut interest rates. Also, over the past month, the US dollar has been strengthening and yields have been favorable.
My trading plan is based on expecting the DXY to fall while XAU breaks through and sustains a recovery to the 4,300–4,400 range. You can consider entering at the levels above; the risk-to-reward ratio is also quite good, so you can size your position accordingly.
This is my personal view, for reference only. Leave your thoughts or join the discussion below. $XAUT