Hey traders,
A lot of questions about gold.
And I guess we all agree that the market is very stubborn at the moment.
It looks like the market maker managed to fool everyone.
Analyzing a price action on a daily, I spotted a horizontal trading range where the price is stuck at the moment.
1824 - 1837 is its support.
1866 - 1874 is its resistance.
Next week I would suggest looking for a breakout trade:
bearish violation of the support of the range will trigger a bearish move to 1793
while a bullish breakout of its resistance may initiate a bullish movement to 1905.
Alternatively, you can consider trading the market within the range
buying from its support and selling from the resistance.
Good luck next week!
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
Comment:
Check my new analysis on GBPCAD:
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel www.youtube.com/c/VasilyTrader
💰Instagram: www.instagram.com/VasilyTrader/ 💰
✅Facebook: www.facebook.com/VasilyTrading/ ✅
❗️YouTube Channel www.youtube.com/c/VasilyTrader
💰Instagram: www.instagram.com/VasilyTrader/ 💰
✅Facebook: www.facebook.com/VasilyTrading/ ✅