XAUUSD: Short opportunity towards 1,460.

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold has been trading sideways for almost the whole month of October as the 1,485 - 1,520 High Volatility Zone on 1D has been weighing neutrally on the price (High Volatility Zone since August). Naturally 4H is highly volatile (ATR = 6.7236) and 1D still neutral marginally ( RSI = 46.423, Highs/Lows = 0.0000) as it is currently testing the bottom (Support) of the Zone.

Based on the 4H RSI which appears to be repeating the last August-September sequence, we are expecting the 1,460 Gap to be fulfilled. After all 1,460 - 1,453 is the current 1D Support Zone . Above 1,520 the pattern is invalidated.

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+5 Reply
@drlama, No it wasn't. 1,460 target reached. Just took a little more time within the high volatility zone before the drop.
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