Gold Trend in European and US Sessions Today - New ATH?

18 Mar

🔔🔔🔔Gold news:

➡️Gold prices have surged past $3,000, reaching record highs early Tuesday as geopolitical tensions in the Middle East escalate. Israel has resumed military operations in Gaza after Hamas rejected US-backed ceasefire proposals. Additionally, growing friction between the US and Iran is further fueling demand for gold as a safe-haven asset.

Personal opinion:
➡️There are too many drivers to push the gold price up from economics - politics - war. Therefore, the uptrend is almost certain to continue

➡️However, there will be a slight pullback, because:
🔆 DXY's RSI (1D) is entering the oversold zone and showing signs of slight convergence, so this will be a sign for DXY to rebound

🔆XAU/USD's RSI (1H) is also entering the overbought zone and showing signs of divergence, so gold may decline in the short term.

Analysis:
➡️ Based on important resistance - support and Fibonacci levels combined with Pivot points to come up with a suitable strategy

Plan:
🔆Price Zone Setup:

👉Sell Gold 3021- 3023 (European session)
❌SL: 3028 | ✅TP: 3017 – 3012 – 3007

👉Sell Gold 3033- 3035
❌SL: 3038 | ✅TP: 3028 – 3023 – 3018

👉Buy Gold 3001- 3003
❌SL: 2997 | ✅TP: 3008 – 3013 – 3018

FM wishes you a successful trading day 💰💰💰

18 Mar

İşlem aktif

SL 3028 and crashed hard to 3018. so unfortunate 🙏🙏🙏

20 Mar

İşlem kapandı: hedefe ulaştı

gold fomo and keep making new ATH