Gold has just broken free of a 6 year solid accumulation trading range. After advancing solidly for some time now, we are pulling back to retest the top / resistance area of the 6 year trading range. Heavy volume is expected as traders of all types; institutions, professionals, retail etc look to re-enter the market at areas of strong historic institutional activity. My bias is overwhelmingly long for the near term. The areas indicated as 'Points of Entry' on the chart are positions where I am looking the the market to pullback and demand to push the market up.
( XAUUSD - Wyckoff Technical Analysis )
( XAUUSD - Wyckoff Technical Analysis )
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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.