A new bearish
H4 channel is forming. adv
nfp or nfp might help push gold
up to the region of $1240-1250 before dropping. I plan on trading this movement if gold
happens to trade within this trend channel. This is a plausible channel.
targets for long: $1240-1250
targets for short from the top is $1200-1190.
ALTERNATIVE: IF gold
stays within the larger daily bullish channel
, we should see higher highs instead of 1190. any of these scenarios are possible.