A traders golden playbook for the week (sorry, not sorry)

TVC:GOLD   CFDs on Gold (US$ / OZ)
We see gold in a pretty neutral spot - although todays candle is defined as an inside bar and subsequently a break of Fridays high-low range (1812 to 1796 - 1 & 2) should set a clearer ST trend. On the upside sellers have capped rallies into the 38.2 fibo at 1814 (1), so a break here takes price to the weekly XAUUSD implied volatility move of 1841 - we can hold a 68.2% level of confidence price will not break here this week.

On the downside, and a break of 1796 could see price into 1775.

So ST we're defined by Friday's range - but a break and I look for 1841 or 1775...I'd be fading moves here this week.

Watching real yields and the USD as always.

Trade well


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.