XAU/USD Possible Scenario (September 6, 2021)
After retesting $1,680, Gold went 5 waves up and looks like it is finishing its 5th wave now, thus I expect to see a small correction to the downside to retest the daily trendline and the previous wave 4 (the $1,783 zone) before continuing its way up.
For people who like to take a little bit of risk, you can short gold now until we reach $1,800-$1,790. My Premium members shorted Gold at $1,834 and currently waiting for the price to reach $1,810 in order to fully close their positions. We already closed half of our positions leaving the other half running with SL at entry.
From a fundamental perspective, if you've been following my market analyses on social media, you know that I still believe that the Fed will not higher interest rates and that it will use "Delta" as a reason not to taper. Additionally, I still see no recovery in the U.S. economy especially after seeing August's NFP data (235k) which didn't surprise me at all because I've been repeating the same thing again and again for the past few months that the labor market will not recover until COVID disappears and it doesn't look like it will in the near future. Hence, traders may start to realize that inflation is here to stay and push Gold towards new highs for this year.
I'll keep you updated with everything. Good luck everyone!
For people who like to take a little bit of risk, you can short gold now until we reach $1,800-$1,790. My Premium members shorted Gold at $1,834 and currently waiting for the price to reach $1,810 in order to fully close their positions. We already closed half of our positions leaving the other half running with SL at entry.
From a fundamental perspective, if you've been following my market analyses on social media, you know that I still believe that the Fed will not higher interest rates and that it will use "Delta" as a reason not to taper. Additionally, I still see no recovery in the U.S. economy especially after seeing August's NFP data (235k) which didn't surprise me at all because I've been repeating the same thing again and again for the past few months that the labor market will not recover until COVID disappears and it doesn't look like it will in the near future. Hence, traders may start to realize that inflation is here to stay and push Gold towards new highs for this year.
I'll keep you updated with everything. Good luck everyone!
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.