XAU#17: Is FOMO Trading Wrong Now? See Detailed Analysis Now!
💎 💎 💎 As analyzed in article #16, 
XAUUSD tested the peak area. Immediately after the end of the weekend session, we witnessed a strong correction. Based on that reaction, we will plan the next step for XAUUSD :💎💎 💎
1️⃣ **Fundamental analysis:**
📊 US retail sales in January fell the most in nearly 2 years. The data released caused gold, US bond yields and the USD index to fall simultaneously
🔹Trade risks are reduced as Trump requests to review tariff policies.
🚀The Russia-Ukraine war has positive developments regarding the ceasefire.
📌 The US economy is currently showing negative and declining signs. The tariff policy that causes the trade war has not shown any signs of cooling down, which will push prices up.
2️⃣ **Technical analysis:**
🔹 **Frame D**: Friday closed with a bearish engulfing candle. Before that was a pinbar. There is a high possibility that we will have a correction for gold.
🔹 **Frame H4**: The short-term trendline seems to no longer have the support effect as in the previous correction. We will look at the next support zone in the H1 frame
🔹 **Frame H1**: As you can see, H1 is in a correction phase. The bullish price structure has not been completely broken, but with this momentum, it is only a matter of time.
3️⃣ **Trading plan:*
⛔ The price is in a strong correction phase in the last trading hours ending the weekly candle without any recovery point. We may face high risks if we FOMO BUY or SELL at this time.
✅ There is a high possibility that we will have a correction phase to the support zone below. We can consider the price reaction at the important support - resistance zones that I marked on the chart to wait to establish a trading position.
💪 **Wishing you success in making profits!**
XAUUSD tested the peak area. Immediately after the end of the weekend session, we witnessed a strong correction. Based on that reaction, we will plan the next step for XAUUSD :💎💎 💎1️⃣ **Fundamental analysis:**
📊 US retail sales in January fell the most in nearly 2 years. The data released caused gold, US bond yields and the USD index to fall simultaneously
🔹Trade risks are reduced as Trump requests to review tariff policies.
🚀The Russia-Ukraine war has positive developments regarding the ceasefire.
📌 The US economy is currently showing negative and declining signs. The tariff policy that causes the trade war has not shown any signs of cooling down, which will push prices up.
2️⃣ **Technical analysis:**
🔹 **Frame D**: Friday closed with a bearish engulfing candle. Before that was a pinbar. There is a high possibility that we will have a correction for gold.
🔹 **Frame H4**: The short-term trendline seems to no longer have the support effect as in the previous correction. We will look at the next support zone in the H1 frame
🔹 **Frame H1**: As you can see, H1 is in a correction phase. The bullish price structure has not been completely broken, but with this momentum, it is only a matter of time.
3️⃣ **Trading plan:*
⛔ The price is in a strong correction phase in the last trading hours ending the weekly candle without any recovery point. We may face high risks if we FOMO BUY or SELL at this time.
✅ There is a high possibility that we will have a correction phase to the support zone below. We can consider the price reaction at the important support - resistance zones that I marked on the chart to wait to establish a trading position.
💪 **Wishing you success in making profits!**
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.