theoris

The Caution Zone of Gold again.

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Let 's market choose her side and follow her path after it show confirm signal.
Long bias
if price still more than 1311 zone (invalid zone of right chart)
target more than 1463 ++

Short bias
if price is not break up green trend line of left chart
Price break down and form H&S pattern , target below 1400 ( 1370 - 1394 )
Comment: I sell Gold 1420 for short term
sl 1422.5
TP 1370-1394
Comment:
Comment: sell trigger is stopped out
and Gold meet old res. if Gold can pass and break TL for invalid in sell
Comment: In this peroid it is unclear so we only trade in zone if it have good RR ,we will entry
like this
it is good RR to buy with tight stoploss

Comments

Great analysis! You provided a clear picture for both scenarios.
+2 Reply
Good analysis, I'm more biased to the upside, but eventually the market will say its own word, so better to be prepared for both sides!
Keep up the great work!
+1 Reply
theoris UGTraders
@UGTraders, Thank you for comment
Reply
Well analysis buddy.
Reply