XAUUSD:May 22-May 26 trading strategy

Hello, traders! I love gold! Trading it made me a huge profit!

Last week, we planned to short gold in 2011-2023, with a target of 1998-1959, our plan was perfect! Now, let's create a trading plan for the new week together.

Please follow my analysis ideas and see how we should trade this week!

In the 30m chart, it formed a double bottom pattern as we expected. In this pattern, its main support is at 1967, and the nearest resistance is at 1985. When it breaks through, the new resistance will appear at 1992, and then 2003, so in Monday's trading, if it falls first, we can go long at 1967, and if it rises, we can short around 2000, I believe, this will be a very successful transaction.

On the 1D chart, it gained support at MA60 (1963) and now faces resistance at MA5 (1985), with MA10/20/30 glued at 2005, so these prices are the focus of our next week's trading.
In its MACD pattern, it is now a dead fork spreading, and KDJ turned its head upwards. Combining the moving average and MACD pattern, I judge that in the new week, it is more likely to rise and then fall. Because there is strong resistance in 2005, MACD has not yet formed a reversal pattern.

When it encountered resistance in 2005 and started to fall, if it could not stop the decline at 1963-1950, its new low point would appear at 1923-1912, which is where MA120 is located. I think such big fluctuations will appear on Thursday and Friday (5.24, 5.25), which is the focus of our trading.

While analyzing the gold chart, I also analyzed the DXY chart. In the 1D chart, it has broken through the resistance of MA120. Its MACD indicator shows a bullish trend. After stepping back at the beginning of the week, there was a sharp rise on Thursday and Friday, touching the position of MA250 (105). Its rise will also indicate a decline in gold.

In addition to technical analysis, fundamentals are now important concerns: inflation, default.
In Friday's currency discussion, Powell said policy rates may not have to rise as high as they have previously done due to tighter bank credit conditions. Price stability is the cornerstone of a strong economy. Maintaining price stability is the responsibility of the central bank. Inflation is currently far exceeding the Fed's target. Williams said that the neutral interest rate estimate is likely to rise again. As soon as this news came out, the dollar weakened again. This is also the main reason why gold rose on Friday.

Whether the United States will have a catastrophic default, on this issue, Biden made it clear that he still believes that the United States can avoid default. As for what will happen in the end, relevant people said that there are no established plans to hold talks on the debt ceiling again.

On 5.25, Waller will give a speech on the economic outlook, and the Federal Reserve will also announce the minutes of the monetary policy meeting on the same day. Announced, this information will bring very large fluctuations to the currency market and the gold market.

I think these data are likely to boost the dollar and cause gold to fall further. So my trading view is short gold.

Trading Signals:

buy:1923-1910

tp:1950-1963

sl:1898


sell: 1992-2005

tp:1939-1912

sl:2011

Dagangan aktif

Dagangan aktif:

I'm shorting gold

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tp

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Guys, trading here today, I need to go out to a party, if you are still trading, please pay attention to the resistance of 1975, the support of 1967, you can go long below 1967, make money and close in time, good luck~

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The bears carry all before

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Let's get on with trading this crazy gold guys
we can go long

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1967 buy

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Bulls are making money, you can choose to close now, or you can set TP1975

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Nice

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Guys please let Roey know you're making money following me

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I love gold to death, it always makes us money

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Guys, its current resistance is still at 1975. When it breaks through, it will reach 1983. If you haven’t made any money today, you can continue to do long below 1970. If you have a profit, you can close it. I’m done with today’s trade, and I’ll come back tomorrow ,Good luck

Dagangan aktif:

The TP of 1975 has been completed, the long trading signal is perfect, I love gold, and I love you, follow my friends!

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Guys, it's trying to stay above 1975, judging by the 3h chart, it still has upward momentum, so, if you haven't made money today, you can go long, target 1983

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It's doing 15m chart fix, 3hr chart up takes time, only 2hrs left in today's trading session, if you need a break now too, set your hold order, TP 1977, SL1971, or close it

Avoid unexpected market swings during the break
Good night

Dagangan aktif

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Guys let's start trading today, short gold

Dagangan aktif

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Guys, gold shorts made money, you can choose to close the order,
After the rebound, continue to short

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My goal today is 1963, hope it can be done, in 2 hours, I need to go to the party, I will close my deal for today in 2 hours

Dagangan aktif:

This is awesome guys, our goal accomplished
today's gold trading can end

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Guys, we accomplished our goal today, great job! It is still falling. If you want to continue trading, you can go short, and close it in time if there is a profit. Now the volatility is relatively large, so don't be greedy!

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Guys, let's start our trade today, go long

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Nice

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Great, we got a profit of $6 ($600 profit for 1 lot), you can choose to close

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sell

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Crazy gold, we have the option to close orders

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It's still falling, maybe 1935 today

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When it rebounds, we observe the resistance of 1948, and we can short again

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Let's close the longs and wait for the opportunity for the shorts to start again

Dagangan aktif:

sell 1948

Dagangan aktif:

closed it

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The volatility is very fast, guys, now you can make money regardless of whether you are trading long or short, as long as you are not greedy and close your position in time if you make a profit. After 3 hours, the Federal Reserve will announce the minutes of the monetary policy meeting, and gold will usher in violent fluctuations again

Dagangan aktif:

Guys, the volatility is small now, if you are satisfied with the profit, you can suspend the transaction now, wait 2 hours later, if you still want to do it, try to short it, the risk is small

Dagangan aktif:

It's falling, are you trading short?

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It will be announced in 1 hour, you can stop trading now, or set SL for your order

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There is no big fluctuation yet, I short gold, set TP1928, SL1969

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go long

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I close the order and continue to rest

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Guys, I keep going long,

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My pals are taking me out to dinner guys, sorry I'm closing orders again, we'll get back to trading later

Dagangan aktif:

sell tp1948

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The MACD on the 30m chart shows signs of forming a dead fork. If formed, it will fall quickly. We need to be careful that it fails to form a dead fork, and there will be a second rise, which will make it rise above 1960 soon

Dagangan aktif:

Nice

Dagangan aktif:

We made it, I keep shorting

Dagangan aktif:

Guys, the volatility has become smaller now, the 30m chart has formed a dead fork pattern, and the 45m is about to form. We will observe the 1952-1955 resistance. If it cannot break through, it will continue to fall. When the 45m dead fork is formed, it will drop below 1940

Dagangan aktif:

sell

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The two data just released, one is good for gold bulls, the other is good for shorts, now the two sides are fighting, we wait for changes, my point of view is that the probability of shorts winning is high, but we also need to manage risks

Dagangan aktif:

open long order

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I closed the long

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Nice

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Good profit today guys, it finally dropped below 1940 and we accomplished our goal

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Guys, this week's trading is over, our profit is not bad, continue next week, hope to make more money, have more time to spend with family, happy weekend! Love you guys!

Dagangan aktif:

Have a great weekend guys! I went on a picnic with my family today

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Get ready for our trading signals of the week

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Guys I just posted my trading strategy for the week

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Today, because of an appointment, I missed the opportunity to short above 1960

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After 6 hours, we will have very huge market fluctuations, are you ready?