🔱 GOLD TRADE IDEA 🔱
BIAS: Bullish
FUNDAMENTAL BIAS: Bullish
The USA FOMC minutes reinforced the possibility of MULTIPLE 50 BPS rate hikes to control the high inflation prior to market expectation of a one- off 50 bps rate hike has NOW evolved into multiple increments.
Following this hawkish alignment- US dollar is likely to see a maintained of bids possibly to end of week. (Minimul impact- all talk but no ACTION waiting for action now- 1915 make or break see if impact)
The response of the FED to the high inflation in USA reaffirms gold inflation hedge status. Amid an overarching Ukraine-Russia tensions - gold prices can remain well above 1900.
OVERALL BULLISH GOLD
TECHNICAL BIAS: Bullish
Currently we are at demand zone at 1915 and must be mindful that range is getting very tight & buy bounces getting faded out.
Overall my main bias on gold is BULLISH, so will potentially BUY at H4 structure points 1915-1890'S: target 1935, 1950's.
Safe sells only if we have a BREAKOUT of 1915 daily demand zone & sellers pressure bringing us below 1912 SHORT TERM to set up better HIGH RISK HIGH REWARD BUYS at 1890's-1900
BIAS: Bullish
FUNDAMENTAL BIAS: Bullish
The USA FOMC minutes reinforced the possibility of MULTIPLE 50 BPS rate hikes to control the high inflation prior to market expectation of a one- off 50 bps rate hike has NOW evolved into multiple increments.
Following this hawkish alignment- US dollar is likely to see a maintained of bids possibly to end of week. (Minimul impact- all talk but no ACTION waiting for action now- 1915 make or break see if impact)
The response of the FED to the high inflation in USA reaffirms gold inflation hedge status. Amid an overarching Ukraine-Russia tensions - gold prices can remain well above 1900.
OVERALL BULLISH GOLD
TECHNICAL BIAS: Bullish
Currently we are at demand zone at 1915 and must be mindful that range is getting very tight & buy bounces getting faded out.
Overall my main bias on gold is BULLISH, so will potentially BUY at H4 structure points 1915-1890'S: target 1935, 1950's.
Safe sells only if we have a BREAKOUT of 1915 daily demand zone & sellers pressure bringing us below 1912 SHORT TERM to set up better HIGH RISK HIGH REWARD BUYS at 1890's-1900
Trade active:
+30 pips in profit from yellow box
Trade closed: target reached