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.
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.
🚀 Elevate your trades with a 20-year market veteran!
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Premium Contact:
t.me/IacobMihai