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Toon93

GOLD possible scalping opportunities

Gold Spot / U.S. Dollar (FX_IDC:XAUUSD)  
Toon93 Updated   
FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Technical Indicators XAUUSD
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trendanalysis chartpattern indicator xauusd
I don't think much will be happening between 1300 and 1325. Even when we see a break of 1300 we will have to wait and see if there will be follow-through, given the extensive amount of EMA's supporting between 1300 and 1270. Nevertheless, could offer some profitable scalping.
Comment:
Well. What we definitely didn't see was scalping opportunities. Recent news increased USD demand, resulting in a dovish signal for the XAUUSD pair. Currently, Gold is consolidating above the 100 Day EMA. The overall trend line is still bullish. I see no reason it will dive below 1285-1275. As such, buying dips is a great opportunity for the long term.

Of course, it's best to await some of the news (as you can see on the chart). Never trade according to the news!
Comment:
This is why we wait for the news. It had a major impact on the XAUUSD pair. That is why it is best to never trade the news as, sometimes, it just increases volatility too much.
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