GOLD (XAU/USD) Weekly overview
Just take a look on this daily chart, you can see that 4 weeks ago price broke dawn big range. Last 4 weeks price is moving in sideways under it.
It shows that current situation is bearish, because Range big players use for accumulation of positions. For us it is better to open Short near border of range $1306. Goals for Short is:
1T/P: $1283
2T/P: $1264
3T/P: $1241
Long we can open only if price will break up Key level $1306 and D1 close upper it. It that situation goals for buy will be:
1T/P: $1325
2T/P: $1354
Just take a look on this daily chart, you can see that 4 weeks ago price broke dawn big range. Last 4 weeks price is moving in sideways under it.
It shows that current situation is bearish, because Range big players use for accumulation of positions. For us it is better to open Short near border of range $1306. Goals for Short is:
1T/P: $1283
2T/P: $1264
3T/P: $1241
Long we can open only if price will break up Key level $1306 and D1 close upper it. It that situation goals for buy will be:
1T/P: $1325
2T/P: $1354
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