So far gold has been moving nicely around in this channel. Indicators show that price might decline to the lower range at 1245 at this point either the range will break or there will be a bounce back up that will got above 1300. However we also see that in the past the price already bounced back up halfway the channel. Since the current price is also halfway the channel a daily close on Friday April 28 above 1270 will invalidate a move to the lower range and validate a new upwards wave.
How to trade
Wait till friday 5-10 minutes before market place or monday at market open to see how the daily candle of friday will/has closed.
A close above 1270: Buy gold with a target of 1300+
A close below 1270: Sell gold with a target at 1245.
Stop-loss: $8 above/under current market price
How to trade
Wait till friday 5-10 minutes before market place or monday at market open to see how the daily candle of friday will/has closed.
A close above 1270: Buy gold with a target of 1300+
A close below 1270: Sell gold with a target at 1245.
Stop-loss: $8 above/under current market price