Mario_PLN

XAUUSD - intraday outlook

FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Yesterday didn't brought nothing spetial to GOLD . One spike to 61% retracement of previous intraday swing which is also 50% retracement of 205-360 daily swing which was not tested as resistance since broken. We are in same trading range 267-275 which is currently in the middle of KC (1H). With very low ADX on H1 and current consolidation area price is waiting for data probably NFP tomorrow which was often a big catalyst for few next days. With one sale @ 295 and another opened yesterday @281 I will try to scalp trading range today thinking of 263 to be hit in near future. Good luck
Trade closed: target reached: Ok. Current week closed very positively sells closed by TP one @ 261 and second @263. One little buy opened just as expected bottom @ 261. I am verry happy my target was hit and if price will be bullish on monday we can suspect that my butterfly d-leg finished and we are now entering @ reversal bullish mid term leg with no other conclusion before monday opening and US session start. Have a good weekend.

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