NOT TRADING THIS MOVE! I think once more leg and drop it like it HOT. Every indicator is exhausted. This is a wave 5 bubble and when it pops, don't get burnt! Where it goes up to is anyone guess now - the yellow lines mark some daily candle resistances - but really this is nothing significant. - It's in the hands of the big banks now to wheel the retail traders...
GOLD in A very GOOD POSITION TO TRADE. Please manage your risk. Use Stop loss. And do not take blind entries. If you have question let me know. If you want to analyze any pair let me know. This is just an idea. What we see. Market can go in the opposite direction, what we analyze. so we have to manage our risk and adopt the situation accordingly.
target 1708 because w've created a nice weekly tweezer top. Dependant what will happen this sunday night (gap or no gap) But i am bearish because the dollar looks also very bearish altough the FED testimony is also bullish sometimes on gold. So on monday my target would be 1708 for gold and and tuesday i am neutral because the fed testimony. Tweezer tops work...
Gold just reacted tp the recent rectangle retest support because , thus we might go in the next hour (16h) to the last resistance of 1720 and after if it's breaks(probably, because it hitted the recent support) we might heading towards 1729 ! trade safe and take your risk-reward with you always
-WAITING FOR CONFIRMATION OF BREAKOUT THEN I WILL ENTER IN TRADE. STAY CONSISTENT TRADE YOUR ANALYSIS!
Gold is currently ranging and therefore we don't have any indications of buys nor sells. Target values for both sells and buys can be seen in analysis.