🔥11/06 A big day for nonfarm payrolls! Gold is consolidating at elevated levels, and a pullback could offer a buying opportunity.
On Thursday, gold surged to 4147 before meeting resistance and pulling back, forming a bullish inverted hammer. The bulls have hit a temporary roadblock.
The Bank of England raised rates for the first time in three years, while Fed officials struck a hawkish tone. Expectations of tighter policy weighed on gold prices.
Yesterday, the long position at 4100 safely banked 150 points. The M5 model remains effective.
Today's key focus: Nonfarm payrolls will set the direction.
Go long directly if prices pull back to the 4015–4030 range. Set a stop loss at 4010, with a target profit of 150–250 points.
Major data release: volatility could surge sharply.
$XAU
On Thursday, gold surged to 4147 before meeting resistance and pulling back, forming a bullish inverted hammer. The bulls have hit a temporary roadblock.
The Bank of England raised rates for the first time in three years, while Fed officials struck a hawkish tone. Expectations of tighter policy weighed on gold prices.
Yesterday, the long position at 4100 safely banked 150 points. The M5 model remains effective.
Today's key focus: Nonfarm payrolls will set the direction.
Go long directly if prices pull back to the 4015–4030 range. Set a stop loss at 4010, with a target profit of 150–250 points.
Major data release: volatility could surge sharply.
$XAU
