FX.co ★ Mollice | XAU/USD, GOLD

Gold D1 Timeframe. The gold price increase is the most probable and priority direction. Concerning the final part of the ascent, the next target would be 2331.51. However, having reached 2342.00, we will approach 2358.30, which may be an excellent time to buy gold. It is profitable to buy gold at this point if I have addressed the possibility of growth, but if I had dealt with the possibility of a fall, then a downward correction would ensue, leading to a level of 2268.40. Long-term positions can also be opened with a price of 2289.50, considering the possibility of a further decline. Yesterday, the price of gold moved moderately upward. Gold regained ground in the previous week's session and moved toward its last high. Some support for the precious metals market comes from US employment data. Many investors are also interested in traditional safe instruments, such as gold. Yesterday's economic events are few and far between. Europe and the United States will provide most of the secondary statistics. Only when the American session opens can investors make their own decisions.

Gold H4 Timeframe. Regarding this instrument, I expect a moderate downward correction in the future, but I hope the upward trend continues. The market can turn above 2270, and I will buy above this level with a target of 2335 and 2349. A falling price may also occur, breaking through 2298 and consolidating before opening up to 2245 and 2256 dollars. However, if we go down again to the area of 2295.00, I will buy there, too, especially since the stop will be small. Although it was still a bearish candle, it had begun to grow northward. Because of the nature of the movement, the northerners must concentrate their efforts and overcome the 2330.00 mark if they want to move north. The gold market has been experiencing a solid bull trend since the previous powerful bull trend ended long ago. In the H4 time frame, I marked a bear movement in the area between the trend lines in the channel, which indicates a gradual change in the situation. My entry decisions are based on a similar pattern as the gold market, with profit targets and risk limits calculated based on the distance between the trend line and the market time frame at the time of entry. Gold market sellers are not yet exerting pressure on the Gold market. Still, if they suddenly exert intense pressure on it, that may be a basis for making a quick sale if the sellers suddenly exert intense pressure on it. The gold market is already showing signs of a bearish trend, which indicates a shift from a bullish one to a bearish one.