Hello traders, hope you are all doing well. From my last gold trade and took on board of what I shown, I hope you enjoyed the hefty 3500+ pip movement!
Anyways from the graph, a short term position looks like is going to be expected. Which will be a 400+ pip movement? I am not too sure. Anyway after that it can either go one or two ways. A breakout on a long or on a short. In my opinion a long will be used to reach the resistance line and then a short position will be expected. Or on the other hand a short long term position will be used and will drop.
Again I believe it'll go between them two ways so only time will tell.
If you have any comments or suggestions please comment and I will be sure to get back to you!!