XAUSGD trade ideas
Bullish setup developing - Gold SGDPrice needs to accumulate around prior month highs for a bit longer before I'm interested in going long.
The downtrend retracements needs to be invalidated before prices can go higher.
Another bullish scenario is for price to spike higher and have a sustained tight consolidation around the high of the spike.
The bearish scenarios are for a grind lower to the bottom of the hypothetical trendline drawn which coincides with last swing low.
A weak bullish attempt to maintain support and prices will collapse. There is a point of inflection coming. Let's see who wins
OANDA:XAUSGD
Keep in commodities in smaller amountgold lovers or collectors, price is ranging for past 4 years and moving upwards since 2013 and 2016 respectively. That means start keeping commodities as low 1375 and sell as high 1920. This is a snapshot view from the look at monthly price behaviorial so not much details looking into it.