Since the recent low marked at the end of May, Gold is trading like a headless chicken, with spikes up and down and no continuation in either direction.
However, there is one good thing to extract from this, after this consolidation, we will have a strong move that could reach 1k pips.
So, if you are not a scalper trying to catch 100 pips move, the best thing to do is wait for clarification.
For the bull move, a break above 1980 is needed, such a break would maintain the bullish trend intact and could lead to new ATH.
For the bear move, a break under 1940 would confirm the change of trend and Gold could drop to March's low around 1800.
However, there is one good thing to extract from this, after this consolidation, we will have a strong move that could reach 1k pips.
So, if you are not a scalper trying to catch 100 pips move, the best thing to do is wait for clarification.
For the bull move, a break above 1980 is needed, such a break would maintain the bullish trend intact and could lead to new ATH.
For the bear move, a break under 1940 would confirm the change of trend and Gold could drop to March's low around 1800.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.