Today, we are eagerly awaiting the release of the PMI number, with a forecast of 47. However, in my opinion, even a forecast of 50 is not good for the economy. Despite this, the expected forecast for today's PMI number is 47, and one may wonder if this is good enough for the economy.
As for gold, my inclination is towards a buying position today. There are several promising buying areas at 1832, 1828, and 1825. I will enter buy positions for that areas. Should the market be able to break through the resistance at 1847, or if any H4 candle opens or closes above that level, I will enter a buy for gold, setting my sights on the next resistance levels at 1854 and 1860.
From my perspective, gold remains bullish, and I will only consider buying positions. However, should there be a rejection at the 1847 level, it may be possible to enter a sell position, but only for a modest profit of 30 to 40 pips. I strongly advise traders to stay in buying positions.
As the PMI number is released, it is expected that gold will go down, but after that, it is anticipated to become even more bullish. It is essential to note that trading in gold, like all trading activities, carries risks. Traders are therefore 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, I recommend maintaining a bullish position when trading gold. By doing so, traders may be able to take advantage of the current market conditions and potentially increase their returns. However, it is crucial to bear in mind that trading always carries risks, and it is important to be prudent and well-informed in all trading decisions.
As for gold, my inclination is towards a buying position today. There are several promising buying areas at 1832, 1828, and 1825. I will enter buy positions for that areas. Should the market be able to break through the resistance at 1847, or if any H4 candle opens or closes above that level, I will enter a buy for gold, setting my sights on the next resistance levels at 1854 and 1860.
From my perspective, gold remains bullish, and I will only consider buying positions. However, should there be a rejection at the 1847 level, it may be possible to enter a sell position, but only for a modest profit of 30 to 40 pips. I strongly advise traders to stay in buying positions.
As the PMI number is released, it is expected that gold will go down, but after that, it is anticipated to become even more bullish. It is essential to note that trading in gold, like all trading activities, carries risks. Traders are therefore 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, I recommend maintaining a bullish position when trading gold. By doing so, traders may be able to take advantage of the current market conditions and potentially increase their returns. However, it is crucial to bear in mind that trading always carries risks, and it is important to be prudent and well-informed in all trading decisions.