Forex Gold Trading by Shenron

Gold hits fresh one-week lows, testing $4,600 while on track for a weekly decline.
The US Dollar stands tall amid rising inflation fears-led hawkish Fed expectations and higher Treasury yields.
Gold looks to test the falling wedge resistance-turned-support, as the daily RSI flips bearish.

XAUUSD Buy Setup
Gold is showing a strong reaction from the key support zone around 4565–4572.
After touching support, buyers are stepping back into the market, indicating a potential bullish recovery toward the 4596 and 4605 resistance levels.
As long as price holds above support, the bullish momentum remains valid.

EURUSD, H1 ~ Good blocking reaction from the current OB zone

GOLD, M10 ~ Everything happens for a reason

I’m not trading GOLD throughout the whole day, but when a high-quality opportunity appears, I won’t let it go to waste.

~860 pips TP reached, by the way

Only risking 1% per trade, today’s profit is already enough to enjoy the next few months in peace

Thank you! and have a wonderful weekend

Good News! Get 50 Tokens free V3 SERIES

Download File Below:

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Software Installation Includes :

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1. Free EA BPC (Trade Manager)

2. Free EA HBL (History Bar Loader)

Believe it or not, GOLD still has potential for tomorrow

GOLD,H1 — make it happen and take the risk Cheers!

Attached Image (click to enlarge)

GOLD,H1 — Risk minimized to (High of Day), profits maximized to (161.8% DTP) RRR 1:9 ~ See u in the London NY sessions

Attached Image (click to enlarge)

GOLD,H2 — stop and re-enter short position (sl 50% pullback) ~ tp reduced to 138.2% Daly Target Price

4558–4562 is looking like a strong Fibonacci resistance zone on XAUUSD.
Watching for bearish rejection from this area as smart money may push the market lower from premium prices.

Undefined state detected on GOLD from my chart (no trade command).

Leaving GOLD behind and shifting focus to other pair opportunities

XAUUSD Analysis
Gold is currently forming a bearish descending triangle pattern on the chart.
Price is continuously creating lower highs while support is being tested repeatedly, which may lead to a strong breakout move soon.
A clean breakdown below support could trigger heavy selling pressure in the market.