Proposed trading strategies for gold today $XAU
📈 Long (Buy)
Entry at support 4,900-4,970
First target 5,125-5,245
Stop loss below 4,880
👉 A good strategy for those trading on H4-D time frames with clear risk management
Prasad Kadri
📉 Short (Sell)
Selling potential from resistance 5,120-5,160
Target 4,800-4,880
Stop loss above 5,220
👉 Suitable for traders on H1-H4 time frames with price rebound moments
Factors affecting today
🔸 US inflation data (CPI): Will affect interest rate expectations, and thus the dollar and gold.
🔸 Current dollar strength: Has recently pressured gold prices, but is open to change with upcoming data.
🔸 Geopolitical tensions and global risks: Often support gold as a safe haven
#XAU #XAUusdtSHORT #TradFi