Gold Bullish idea
Weekly Trend: Bearish
Daily Trend: Ranging
4Hour Trend: Bearish
Trade scenario 1: We are ultimately bullish on gold given the higher timeframe trends but we are still seeing a struggle to break through this daily range.
The most likely scenario for the week ahead is a play of the range. Look for price action to push toward 1825.00 once again.
Trade scenario 2: If we see price action break 1785.00 support we need to confirm a significant lower high below before considering sell opportunities.
Weekly Trend: Bearish
Daily Trend: Ranging
4Hour Trend: Bearish
Trade scenario 1: We are ultimately bullish on gold given the higher timeframe trends but we are still seeing a struggle to break through this daily range.
The most likely scenario for the week ahead is a play of the range. Look for price action to push toward 1825.00 once again.
Trade scenario 2: If we see price action break 1785.00 support we need to confirm a significant lower high below before considering sell opportunities.