Mid-Week Trade Plan – September 25, 2024

📊 XAUUSD Mid-Week Trade Plan – September 25, 2024

🚨 Price Update:

🏅 Gold prices hit a new high, surging to $2,670.00 📈💰 due to rate cut talks and Middle East tensions.

🌍 Market News Update:

• 📉 US consumer confidence dropped, leading to lower Treasury yields and a weaker dollar.
  
• 🇨🇳 China’s stimulus boosted global markets, driving up metals and mining stocks 📈💼 in Europe and the US.
  

Mid-Week Trade

📈 Buy Entry 1: $2,626.18 - $2634.48

• 🎯 TP 1: $2,680.00
  
• 🎯 TP 2: $2,700.23
  
• 🎯TP 3: Leave portion of trade open
  
• 🔒 SL 1: $2,616.00 – Just below the next key support, minimizing downside risk
  

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🔄$2,640.18 – Buy Stop Entry if initial is a miss

📈 Buy Entry 2: $2,586.54 -$2594.22

• 🎯 TP 1: $2,640.18
  
• 🎯 TP 2: $2,680.00
  
• 🎯TP 3: Leave portion of trade open
  
• 🔒 SL 2: $2,574.42 – Protecting the entry against further drops, placed below the support zone.
  

🔄$2,600.67 – Buy Stop Entry if initial is a miss

📉 Sell Scenario:
While the trend remains bullish, only highly experienced traders should consider a sell position in this market. Look for a strong rejection of resistance at $2,670.50 or $2,700.23 for short opportunities. News Update Tomorrow, could provide better Sell opportunities, if News favours USD


As always, our trades are guided by price action. While we can plan in advance, we adapt daily to the market, using key signals and indicators to inform our trading decisions.