How to Use This Dashboard for Profit
Welcome to the ResopaFX Market Dashboard. This tool is designed to give you a comprehensive view of the XAUUSD (Gold) market and major Forex pairs in real-time. Instead of switching between multiple apps, you can analyze price action, check technical sentiment, and monitor economic news all in one place.
1. Understanding the Live Chart
The chart above displays real-time price movements from OANDA. You can switch timeframes from 1 minute (scalping) to 1 day (swing trading) using the top menu on the chart. Use the drawing tools on the left to mark your Support and Resistance levels.
2. Reading the Technical Gauge
Click on the "Technicals" tab to see the market sentiment. This speedometer aggregates data from Moving Averages and Oscillators (RSI, MACD, Stochastic).
- Strong Buy: Most indicators suggest the price is going up.
- Neutral: The market is ranging or undecided. Wait for confirmation.
- Strong Sell: Selling pressure is high. Look for short opportunities.
3. Economic Calendar Impact
Never trade blindly during high-impact news. Check the "Calendar" tab. If you see a Red Folder icon (High Impact) for USD, expect high volatility on Gold (XAUUSD). Professional traders usually wait 15 minutes after the news release before entering a trade.
Why Gold (XAUUSD) is Volatile?
Gold is considered a safe-haven asset. During times of economic uncertainty or high inflation, investors flock to Gold, driving its price up. Conversely, when the US Dollar strengthens (DXY up), Gold prices tend to fall. Using the dashboard above, you can correlate the technical signals with fundamental news to make better trading decisions.