Mihai_Iacob

Gold- 1k pips move probable, but in which way?

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Since the recent low marked at the end of May, Gold is trading like a headless chicken, with spikes up and down and no continuation in either direction.
However, there is one good thing to extract from this, after this consolidation, we will have a strong move that could reach 1k pips.
So, if you are not a scalper trying to catch 100 pips move, the best thing to do is wait for clarification.
For the bull move, a break above 1980 is needed, such a break would maintain the bullish trend intact and could lead to new ATH.
For the bear move, a break under 1940 would confirm the change of trend and Gold could drop to March's low around 1800.

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