Potential Opportunities in Gold Trading During the Golden Day
During the Golden Day session, Gold experienced a significant upward gap at the opening, driving a strong momentum of over 300 pips towards around 2265. Subsequently, Gold initiated a corrective move from the European to the American session, retracing to test the earlier gap area. Ultimately, the H4 candle found support at this level, followed by a bullish Engulfing candle, indicating a potential reversal. As a result, the market recovered overnight, closing D1 around 2249.
Today, Blackman continues to align with the primary uptrend of Gold. We await a retracement to the Demand Zone on the H4 timeframe around the 2237-2240 region to enter buy positions, targeting 2250 and 2255 respectively.
However, during the Asian-European session, if the market rallies to the 2258 area, we may consider initiating sell orders at the beginning of the day. Gold might lack sufficient strength to break above during these two sessions.
Trade suggestions:
Buy 2236-2242
SL 2233 (Note: SL is relatively distant, consider reducing position size)
TP1: 2249
TP2: 2255
Sell 2259
SL 2275
TP: 2265
Today, Blackman continues to align with the primary uptrend of Gold. We await a retracement to the Demand Zone on the H4 timeframe around the 2237-2240 region to enter buy positions, targeting 2250 and 2255 respectively.
However, during the Asian-European session, if the market rallies to the 2258 area, we may consider initiating sell orders at the beginning of the day. Gold might lack sufficient strength to break above during these two sessions.
Trade suggestions:
Buy 2236-2242
SL 2233 (Note: SL is relatively distant, consider reducing position size)
TP1: 2249
TP2: 2255
Sell 2259
SL 2275
TP: 2265
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