Gold trend assessment
Gold has gained very well last week when the US economic data released was not as expected, especially the CPI data showed that inflation has cooled down significantly. This makes it possible for the Fed to slow down the rate hike, now that the probability that the Fed will only raise interest rates by 25 basis points in December has significantly increased, which has supported gold prices. THE MARKET IS DISCOVERING THIS DATA.
Asian session 11/15 Bought around 50% fib of the previous increase around 1764, stop 1759, TP 1772-1775.
- Wait for the buy zone 1655 - 1660 target 1800 - 1820 SL when the h4 candle closes below 1650.
Gold has gained very well last week when the US economic data released was not as expected, especially the CPI data showed that inflation has cooled down significantly. This makes it possible for the Fed to slow down the rate hike, now that the probability that the Fed will only raise interest rates by 25 basis points in December has significantly increased, which has supported gold prices. THE MARKET IS DISCOVERING THIS DATA.
Asian session 11/15 Bought around 50% fib of the previous increase around 1764, stop 1759, TP 1772-1775.
- Wait for the buy zone 1655 - 1660 target 1800 - 1820 SL when the h4 candle closes below 1650.
Comment:
Done Buy 1764 fib 50% TP 1772