GOLD (XAUUSD): Detailed Technical Outlook & Trading Plan
As we discussed on the yesterday's live stream,
Gold is currently in a consolidation stage.
The price is stuck within a wide horizontal channel on a daily
and we see a test of its support at the moment.
With the absence of high impact news in the economic calendar,
I assume that a consolidation will continue and there is a high
chance to see a pullback.
Your confirmation signal will be a bullish breakout and a 4H candle close
above 3271 - upper boundary of the intraday horizontal range.
There will be a strong possibility of a rise to at least to 3320 level.
Alternatively, a bearish violation of a support of the range on a daily
and a daily candle close below that may trigger a further decline.
❤️Please, support my work with like, thank you!❤️
I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
