#XAUUSD60 Gold breakout, a new peak emerging?
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Assessment of the European - American session trend on August 2, 2024:
In the Asian session, there was a double peak sweep in gold, affecting our trading plan significantly.
The trading trend in the European-American session is still BUY. Today is the 6th day of the W candlestick pattern, with many news events strongly impacting the market.
There are two possible scenarios:
1. Gold will have a slight correction from 2468 to the range of 2453-2458 before continuing to rise strongly.
2. Gold may experience another double peak sweep to fill the liquidity area of 2410-2413 due to news events and then rise strongly again.
Gold may reach 2484 or form a new peak, which is entirely possible. However, price levels to watch are 2420-2413 and 2453-2458.
Recommended orders:
Plan 1: BUY XAUUSD zone 2453-2455
SL 2449
TP 2458 - 2468 - 2495.
Plan 2: BUY XAUUSD zone 2410-2413
SL 2407
TP 2416 - 2430 - 2473 - floating.
In the Asian session, there was a double peak sweep in gold, affecting our trading plan significantly.
The trading trend in the European-American session is still BUY. Today is the 6th day of the W candlestick pattern, with many news events strongly impacting the market.
There are two possible scenarios:
1. Gold will have a slight correction from 2468 to the range of 2453-2458 before continuing to rise strongly.
2. Gold may experience another double peak sweep to fill the liquidity area of 2410-2413 due to news events and then rise strongly again.
Gold may reach 2484 or form a new peak, which is entirely possible. However, price levels to watch are 2420-2413 and 2453-2458.
Recommended orders:
Plan 1: BUY XAUUSD zone 2453-2455
SL 2449
TP 2458 - 2468 - 2495.
Plan 2: BUY XAUUSD zone 2410-2413
SL 2407
TP 2416 - 2430 - 2473 - floating.
Nota
Get updated on analysis, signals, news: gold, FX, cryptocurrencies at: t.me/yhpanahs
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