Gold has been stuck in a range between 1670.00 and 1745.00 for quiet some time now, on one occasion we saw gold break the 1745.00 resistance just to crash back down again.
I think its safe to say we see clear buy pressure enter the market and form an uptrend channel. However, although price seems to be taking on bullish characteristics, we still have that 1745.00 resistance and if we can clear it, retest it and get a nice bounce from the level, we might have a nice high upside probability entry!
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I think its safe to say we see clear buy pressure enter the market and form an uptrend channel. However, although price seems to be taking on bullish characteristics, we still have that 1745.00 resistance and if we can clear it, retest it and get a nice bounce from the level, we might have a nice high upside probability entry!
If you find this idea useful please leave a like and comment below what we should be expecting!
Trade closed manually:
Trade was closed at 1759.00