XAUUSD.............A complete guide of GOLD movement
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The consolidation which lasted for 2 days and 8hrs has a low of @1690.80 and high @1721.94 (the small pink area is highlighting that).
Price broke the low of the consolidation which is the B leg of the ABCD pattern and fell over 200pips. The last trading day of April saw price moved back into the consolidation area which is the marked yellow lines @1721.24=resistance of the consolidation and @1690.80=support of the consolidation, so if the price breaks below @1690.80 you sell then if price breaks above @1721.24 you buy.
The consolidation which lasted for 2 days and 8hrs has a low of @1690.80 and high @1721.94 (the small pink area is highlighting that).
Price broke the low of the consolidation which is the B leg of the ABCD pattern and fell over 200pips. The last trading day of April saw price moved back into the consolidation area which is the marked yellow lines @1721.24=resistance of the consolidation and @1690.80=support of the consolidation, so if the price breaks below @1690.80 you sell then if price breaks above @1721.24 you buy.
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