Some different approaches for gold.
In general there are few possibilites for shorts.
Perhaps the 1880-1890 area might give a decent drop of some hundreds of pips just to trap retail traders and based on profit closure, too.
The forecasts for gold emphasized on rallies.
So, taking into account fibo levels from different points of view (SHs-SLs) and support key areas I am waiting for support bouces.
The price is inside a bullish channel.
Caution! NFP and other US high impact data will be released and it is a period in which market makers decide the trend, consolidations etc.
In general there are few possibilites for shorts.
Perhaps the 1880-1890 area might give a decent drop of some hundreds of pips just to trap retail traders and based on profit closure, too.
The forecasts for gold emphasized on rallies.
So, taking into account fibo levels from different points of view (SHs-SLs) and support key areas I am waiting for support bouces.
The price is inside a bullish channel.
Caution! NFP and other US high impact data will be released and it is a period in which market makers decide the trend, consolidations etc.
Comment:
80% closed at 1870. +100 pips.
Trade closed manually:
remaining position closed at 1870 again. 65 pips drawdown & 100 in profit.
will re enter again in the zone 1880-1890
will re enter again in the zone 1880-1890
My positions opened at 1828 and closed manually at 1831 due to positive USD news and tomorrow's NFP. Reentry possible!