Good Evening Gold Followers
FOMC statement a head and Gold is getting ready for big move hopefully.Our trade idea with targets and entry point is still valid and I suggest you to trade with proper stoploss because we may see volatile in the market during FOMC. Previous resistance that become support is 1111-1110 area and we will look for buy enrty around this area.If gold break this level We will go for alternate.
Buy from 1110-11
If gold break 1111-1110 Support area
Sell from 1107-06
Stoploss above 1111-13
Loger term target is still valid 1145
Note: Market may volatile and give big move during FOMC. I suggest you to trade with proper stoploss and risk management rule. Don’t risk more then 2% of your capital in single trade.
Feel free to comment below if you have any concern regarding trade idea and analysis.You feedback is always welcome.
Wish you best of luck & Happy Trading