VasilyTrader

GOLD (XAUUSD): Current Market Outlook 🥇

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar

Hey traders,

I was asked many times to give a detailed update on gold .

From an intraday perspective, the market is currently consolidating.
The price is stuck within a narrow horizontal trading range.
1795 - 1800 is its resistance
1755 - 1765 is its support.

It looks like the market participants are waiting for some fundamental trigger.

If you are a scalper/intraday trader,
consider the boundaries of the range for range trading.

If you want to catch the next wave, I would suggest waiting for a range breakout trade.

I remain bullish biased and expect a bullish continuation after a consolidation.
However, for now, we wait.

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Comment: Check my new idea on SILVER:

Comments

I like your analysis. Its now at 1794 (very close to resistance), it will be interesting to see whether it retreats for the range trade or breaks out.
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great my freind🌷🌷 tnk dear🌷🌷🌷
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I always appreaciate your input on XAUUSD
amazing!
Reply
VasilyTrader SignalProvider
@SignalProvider, thank you so much buddy!!!
Reply
Good one my friend
Reply
VasilyTrader Helical_Trades
@Helical_Trades, thank you my friend 🙏
Reply
thanks for share 📉.. but support zone 10$..
Reply
@soniaasu, you are welcome bro :)
Reply
Thanks for sharing friend! ) I'm waiting second options - short.
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