AlkalineFX

XAUUSD(GOLD): Playing the Range

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
We have been caught between equal highs and equal lows for quite some time now. Soon we will see an impulsive move that will look to capture either side of the market.

Personally, I would like to see the resistance point being targeted first since we are closer to it than the support.

The impulsive push yesterday has eradicated some sellers from the market meaning price can swoop back down at a discounted rate for buys.

I have illustrated where I would like to buy and what the next potential price movements will be.

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Keep in mind that the analysis provided is not 100% accurate and that you can never be certain of the markets. This information given is not financial advice, always do your own research.

Thank you for reading,

Cheers to many pips!



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