GOLD price in range, current situation 50/50, long is preferable
Hello my friends, today I want to talk with you about GOLD .
Gold now inside big range, accumulation zone.
Price now trades exact at the middle of range.
Current situation is 50/50 but for me personally long is preferable.
My trading plan for both positions, long and short.
If price will grow to top part of range.
In this case you can open long right away after breakout, but there is a chance that breakout will be false.
Or more safe plan is to open long on retest after breakout, target is this case can be level 2040 and higher.
If price will go to down part of range.
You can open short right away after breakout, but in this case also is the chance that breakout will be false.
More safe plan is to open long on retest after breakout, target is this case can be level 1820 and lower.
So be ready for such scenario.
This is an article, not financial advice, always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
And please don't forget to support this idea with your like and comment, thank you.
Gold now inside big range, accumulation zone.
Price now trades exact at the middle of range.
Current situation is 50/50 but for me personally long is preferable.
My trading plan for both positions, long and short.
If price will grow to top part of range.
In this case you can open long right away after breakout, but there is a chance that breakout will be false.
Or more safe plan is to open long on retest after breakout, target is this case can be level 2040 and higher.
If price will go to down part of range.
You can open short right away after breakout, but in this case also is the chance that breakout will be false.
More safe plan is to open long on retest after breakout, target is this case can be level 1820 and lower.
So be ready for such scenario.
This is an article, not financial advice, always do your own research.
If you have any questions, you can write it in comments below, and I will answer them.
And please don't forget to support this idea with your like and comment, thank you.