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VasilyTrader
May 5, 2021 9:25 AM

GOLD (XAUUSD): Current Market Outlook πŸ₯‡Β Long

GoldOANDA

Description

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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.

❀️Please, support this idea with a like and comment!❀️

⬇️Subscribe to my social networks!⬇️

Comment

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Check my new idea on SILVER:
Comments
BrysonWinchester
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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.
bappykhalidhasan0
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amazing
sahelabshari
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great my freind🌷🌷 tnk dear🌷🌷🌷
SignalProvider
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I always appreaciate your input on XAUUSD
amazing!
VasilyTrader
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@SignalProvider, thank you so much buddy!!!
Helical_Trades
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Good one my friend
VasilyTrader
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@Helical_Trades, thank you my friend πŸ™
soniaasu
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thanks for share πŸ“‰.. but support zone 10$..
VasilyTrader
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@soniaasu, you are welcome bro :)
UnknownUnicorn15614419
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Thanks for sharing friend! ) I'm waiting second options - short.
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