Gold trading idea
As you can see Gold has maintained the bullish momentum trading in a channel that has kind of head and shoulders that could be valid in case of a breakout from 2533 levels which in this case will be targetting the 2700 levels.
Remember that tomorrow is Friday so keep watching the markets if any breakout occurs during asian/european sessions that would then be a great opportunity to focus on buy positions during Nyse session
otherwise, do not enter any positions because the breakout could happen after another retracement that can go until 2500 levels again if so then that would be an interesting area to surf within a long position awaiting the breakout perhaps by the end of the session or at the beginig of next week ?
Trade safe and good luck
Remember that tomorrow is Friday so keep watching the markets if any breakout occurs during asian/european sessions that would then be a great opportunity to focus on buy positions during Nyse session
otherwise, do not enter any positions because the breakout could happen after another retracement that can go until 2500 levels again if so then that would be an interesting area to surf within a long position awaiting the breakout perhaps by the end of the session or at the beginig of next week ?
Trade safe and good luck
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.