Mastery Trade for XAUUSD 6 Jan 2023 for Fundamental Analysis and Technical Analysis

Gold : Fundamental Factors

1) Average Hourly Earnings m/m is expected to be at 0.4% compare to 0.6% previously

2) Non-Farm Employment Change is expected to at 200000 compare to 263000 previously in December.

3) Unemployment Rate is US is expected not to change and remain at 3.7% .

4) ISM Services PMI is expected to be at 55.0 compare to 56.5

5) China is facing an unprecedented spike in COVID-19 cases after the country relaxed curbs in December. Analysts have warned that this trend could delay a broader reopening, and also cause near-term market volatility.

Trend is Bullish

Fundamental Range : 1,830.76 – 1860.51

(Disclaimer: The range can be more or lesser however it will definately cross this range for the daily.)(Safe range provided)

Gold : Technical Analysis

Check at Daily Timeframe Support and Resistance for Fibonacci.

Check based on the current timing for the Support and Resistance when you want to go into trade.

Resistance Area : 1852.32,1860.51,1873.75
Support Area : 1825.82,1817.63,1804.39
Pivot point : 1839.07

Confirm with technical indicators and based on your own technical analysis for the trend.

Check to get more info on what most indicator would display

Check higher timeframe also for more confirmation for entry in Daily timeframe.

The technical indicator display strong buy in Daily and strong buy in weekly and buy in monthly timeframe.

Use linear regression to get confirmation trend at daily as they are not available in

Linear regression shows uptrend at the daily timeframe .Can check linear regression trend in weekly and monthly for more confirmation.For weekly, it is downtrend and for monthly,it is showing uptrend.

Use Bolinger Band Strategy Tester and RSI Strategy Tester to get more confirmation for the trend and percent profitable.Check at bigger timeframe also such as weekly and monthly.

Ensure that both RSI strategy and Bolinger Band Strategy gives above 50%. for the percent profitable

RSI strategy tester and Bolinger Band Strategy Tester at the daily and weekly has percentage higher than 50% , supporting towards neutral or slight downtrend compare to the other timeframe such as Monthly.

Gold : Find buy at the daily chart by using the support 1, 1825.82 and take profit will be at the pivot point, 1839.07 (CURRENT MARKET PRICE)

See current market and find the nearest support point for entry and take profit.

Fundamental and Technical analysis must be aligned

For further information, contact me ,Gurmit at +60142584067, I will guide anyone who wants to register with Weltrade. You can register at the link below. Thank you.

DISCLAIMER :This analysis is based on and You may follow based on your own discreetion.

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