GOLD TRADING STRATEGY TODAY 1-2 MAY | XAUUSD ANALYSIS TODAY 1-2 MAY | XAUUSD FORECAST TODAY 1-2 MAY

GOLD TRADING STRATEGY TODAY 1-2 MAY | XAUUSD ANALYSIS TODAY 1-2 MAY | XAUUSD FORECAST TODAY 1-2 MAY

hello hello hello welcome to my channel my dear friends my name is aash I’m a tra next to in this video I’ll be analyzing the chart of C HD so if you’re watching my videos for the first time you can subscribe to my channel for regular market analysis so let’s get started so my dear friends this is the hourly chart of go in front of us and we can clearly see there is good amount of selling pressure on gold if you look at a daily chart of gold then we can see daily chart of gold is showing good amount of correction that we have been discussing we all have been waiting millions of Traders around the world have been waiting for the last couple of weeks and finally we can see the correction so right now goal is standing at 2286 and surprisingly rather shockingly gold broke the psychological level of 230 0 and trading below it you can see the black line here is the 23000 level and right now Market is trading around 2285 or this is the current market price and if You observe the last four five candles we can see the market is trying to take support but if we zoom out the chart you can clearly see that we do not have any significant support here so if Market breaks this level here further downside is possible so let’s try to understand the market sentiment first go subdued as Traders ready for Fed rate Verdi gold prices struggle for momentum on Wednesday as investors refrain from taking big positions ahead of us F Reser policy decision that could offer for more ques on its rate cut timeline gold holds decline as fed decision loans so Market is expecting that gold May remain like this but yes if a one red candle also forms then obviously we are retail Traders okay we can look for trading opportunities isn’t it okay but yes be careful if you already have an ongoing sell position you can be on the trade Okay so suppose you have taken a sell yesterday day for yesterday then you can be on the trade because we can clearly see the market is in downtrend after the news okay there will be volatility what will happen nobody can predict the market but before the news you can expect the market to remain under the dominance of the sellers if Market tries to go up also you can expect the market to face resistance around 230 0 the previous support will be working as resistance and you can see at the same level we also have the fibo 23.6% retracement level so during the Asian session European session if Market goes up also Market will face some selling pressure around this area as a day trader we can look for sell if you see Market struggling around this area you can hit the sell button after the news try to follow the trend of the market do not look for reversal because if you look at the economic calendar you can see um we have the ism uh PMI coming up okay then we have fed interest rate decision so Market will be volatile uh throughout the US session so please be careful if you’re a beginner new Trader if you do not have any open position just observe the market to gain experience do not try to gamble okay and my dear friends if you’re looking for further detail analysis then you can give a shot to dob which is an AI power chatbot also your friend in this trading Journey first of allb is a chat boot so you can ask any questions Tob but on the right hand side you can also see that time frames are mentioned 50 minut 30 minut 1 or 4 us so what you can do is you can directly click here and just your desired or beloved option here let’s go with X USD and 15 me you can see that within one second okay you have the detail analysis of XU USD okay you can also change the time frame let’s go with with the one day time frame now you can see that analysis of X USD for one day okay and here it goes so this is how powerful dob is so my dear friends if you’re a busy person if you do not have much time for the analysis you can just useb you will love it and at a time of trading if you want to go through the analysis then you can simply go to the mobile version like this this is a very cool feature you can see okay you just need to click on the switch here and there it goes you have the mobile version of the dob and you can just look at the chart on the right hand side isn’t it cool my dear friends so you can check outb the link is in the description and my dear friends this is the forest chart of gold in front of us and here we can see that right now Market is almost standing at the 200 moving average so if we draw fibo here we can see previously when Market came to fibo 0.236 Market showed a good bounce so obviously we can expect the same isn’t it from The Next fibo Level which is around 260 so in simple words okay if the selling pressure continues like this then before news we can expect the market to give us a good Bounce Around 260 okay and I have not placed any by limit yet but yes I’m planning to place a buy limit okay before okay and it will be valid before the news but as there is selling pressure on the market and Market is almost standing at the 200 moving average here so okay so taking a new sell position can be a little bit risky here okay so it depends on you but if Market breaks double two okay if Market breaks double to 80 then a good amount of sell may come it may be a good selling opportunity for almost 150 Pips okay time will speak okay it is very difficult to tell right now because before a major event we get we do not get to see much much volume or we do not get to see much volatility but yesterday Market proved us wrong okay market showed extreme volatility Market show good amount of volume so things are little difficult with the market always so if Market breaks double 280 with good selling pressure we can look for a sell but right now if you have already an ongoing sell position we can be on the trade and before news we can expect a good Bounce Around 260 261 because of fibo 38.2% person retracement level and fibo has been working here very nicely okay so we are back to the hourly chart of goal again and you can see that if this level okay is uh okay doesn’t work then we have the next selling opportunity around 2308 to 231 0 but before the US session I don’t think so Market will be so volatile that market will break 2 3 0 so in short we though we have multiple Trading opportunities on the market right now but you need to be little careful okay so let me repeat again overall okay the overall we can see the market is little bit bearish right now okay and if you look at the present trend of the market then obviously there is no doubt that sellers are dominating this Market here at this moment after the uh fed interest rate decision Market will be volatile and market May behave okay like crazy so that’s a different chap but before news we can we can expect the market to remain under the under the dominance of Sellers and we can look for sell position so if you already have an ongoing sell position you can be on the trade because selling pressure is there in the market and if Market breaks double to 80 with heavy volume then we can also look for a sell below this level but the problem is that market is already very much oversold okay so in this market situation it is better to go for a cell at the resistance and here the resistance is 230 so listen to me carefully okay it may sound little little complicated if you’re new to the market so as the market is already oversold okay heavily oversold it’s better to look for a sell at resistance and as we all know sell on Rise is the best trading strategy in this type of Market situation and here the resistance is around 230 0 and then 23 08 231 0 but if immediate resistance is around 2 3 0 only but sometimes Market is so weak that that it fails to go up in that case obviously you can look for a sell below 285 but personally I will not go for any sell uh at this moment because I’m not much convinced and as we all know that before any major event usually there is not much volume in the market moreover today is MayDay okay so okay our Labor Day sorry May um so in in absence of volume okay so Breakout breakdowns usually fail so let’s wait and watch okay but personally I feel that okay a correction May Come okay correction May Come not not a complete Trend reversal for the next few months and years but yes we can expect a correction on gold personally I have seen that before okay before a big events for example okay in India we have um AER uh 3 TI coming up on 10th of May okay so if the price of gold is here then obviously the people will not be able to buy those okay who are listening to me from outside India okay then AET T is a festival in India where people buy gold okay you can just Google for more details okay so if the price of gold is so high then obviously people won’t be able to buy coal and Indians are huge buyers of coal so obviously a correction is needed fundamentally I’m always bullish on go obviously okay you guys have heard me say a lot of time but yes we can see that the selling pressure is there in the market so at this moment it is better to be on the sell side only okay after the news if a trend reversal comes that’s a different thing but at this moment we can see that there is selling pressure so sell on Rise is the best running strategy around 230 okay and we have a good support around 260 so we can also expect a bounce around there as well okay so that’s wait and watch do not expect a complete Trend reversal from 260 at least you can expect a bounce of 50 to 70 Pips okay so that’s all from my side my dear friends thank you so much bye-bye take care this week is going to be volatile because of today’s Fed rate decision and most importantly we have t NFP coming up so let’s wait and watch bye-bye take care see you tomorrow

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