During the last month GOLD has been ranging between the 1790-1930 levels.
Sooner or later everything is changing and this will end.
The news today are a suitable moment for a breakout of this range.
The initial impulse is strong and we now have a close below the support.
The next support to keep an eye on is at 1760!
If you currently have any short positions you can leave them with those targets and also move your SL to break even.
We don't suggest entering any short trades now with targets at 1760.
If you get involved now, then you won't have a good risk to reward ratio!
That's why it will be better to miss this move rather then enter a position right now.
In case of a pullback to the resistance, then we could look for a reversal signal and then possibly find a better entry.
Are we going to have another entry opportunity? Well, that depends on how this move will continue.
Follow us to see how this situation on GOLD will develop!
Support us by follow, like and leave a comment down below!
Sooner or later everything is changing and this will end.
The news today are a suitable moment for a breakout of this range.
The initial impulse is strong and we now have a close below the support.
The next support to keep an eye on is at 1760!
If you currently have any short positions you can leave them with those targets and also move your SL to break even.
We don't suggest entering any short trades now with targets at 1760.
If you get involved now, then you won't have a good risk to reward ratio!
That's why it will be better to miss this move rather then enter a position right now.
In case of a pullback to the resistance, then we could look for a reversal signal and then possibly find a better entry.
Are we going to have another entry opportunity? Well, that depends on how this move will continue.
Follow us to see how this situation on GOLD will develop!
Support us by follow, like and leave a comment down below!
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