Xauusd Gold 20 February Analysis
As is commonly known in the world of trading, Mondays tend to be low volatility days. Given the added closure of US banks today, the day is anticipated to be an ultra-slow or low volatility day. Despite this, Monday presents ideal opportunities for intraday traders.
With regard to gold, I am tilting toward the buying side today. There are good buying areas at 1832, 1828, and 1825. If the market breaks the 1845 resistance, or if any H4 candle opens or closes above 1845, I will enter a buy for gold, aiming for the next resistance levels at 1854 and 1860.
From my perspective, gold remains bullish, and I will only consider buying positions. However, if there is a rejection at 1845, you may enter a sell position but only for 30 to 40 pips. I advise traders to stay in buying positions.
It is essential to note that trading in gold, like all trading activities, carries risks. Therefore, traders are advised to adhere to a sound trading strategy and a risk management plan to minimize the risks. By doing so, traders can make informed decisions and safeguard their capital.
In summary, Monday's low volatility day can present lucrative trading opportunities. As a trader, it is essential to approach the market with caution, and I advise traders to maintain a bullish position when trading gold.
With regard to gold, I am tilting toward the buying side today. There are good buying areas at 1832, 1828, and 1825. If the market breaks the 1845 resistance, or if any H4 candle opens or closes above 1845, I will enter a buy for gold, aiming for the next resistance levels at 1854 and 1860.
From my perspective, gold remains bullish, and I will only consider buying positions. However, if there is a rejection at 1845, you may enter a sell position but only for 30 to 40 pips. I advise traders to stay in buying positions.
It is essential to note that trading in gold, like all trading activities, carries risks. Therefore, traders are advised to adhere to a sound trading strategy and a risk management plan to minimize the risks. By doing so, traders can make informed decisions and safeguard their capital.
In summary, Monday's low volatility day can present lucrative trading opportunities. As a trader, it is essential to approach the market with caution, and I advise traders to maintain a bullish position when trading gold.
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