Gold's momentum don't stop. the move is slow and sort of choppy if you look a the low time frame. Can history repeat itself and poke through the line one more time? Or do liquidity dry up right before it reach and start dumping?
I am bullish overall, at least until we reach the upper trend like. We might break above that line and retest and break out again. That would be my dream scenario, but as a future trader, I am only trying to capture that small momentum from point A to point B. Which is slightly above the upper line in my case.
I think gold in spot will soon hit the 4200 psych level or slightly above it before we see a slow down.
As always trade, only trade with money you can afford to lose, and set a stop loss, even if its below where it might wick down for liquidity.
I am bullish overall, at least until we reach the upper trend like. We might break above that line and retest and break out again. That would be my dream scenario, but as a future trader, I am only trying to capture that small momentum from point A to point B. Which is slightly above the upper line in my case.
I think gold in spot will soon hit the 4200 psych level or slightly above it before we see a slow down.
As always trade, only trade with money you can afford to lose, and set a stop loss, even if its below where it might wick down for liquidity.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.