The gold time frame of 1 hour is located in an ascending channel, the support/resistance line of the channel is touched every time and it reacts. Gold will move upwards towards the resistance line until the support line of the channel is not down. Down line of the specified support range.
We have been ranging since London session yesterday with very little volume. We have three options for gold volume permitting.
If we break above the range we have been stuck in, we can look for a potential wickfill which would be 30 pips, however that is a risky move. Safer buys would be if we break resistance at 1933. We have clean traffic to the left and we can...
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
Gold has moved as we have predicted in our previous analyses, breaking above it's former resistance.
Gold is now trading within a range, looking to breakout again in either direction.
As Gold is currently in an uptrend, and tested Major Support below, we believe it is more probable for Gold to breakout upwards, continuing it's current trend towards Major...
Our previous signal outlined this trade setup, Gold has just broken out as predicted so now our trade is in play towards the major resistance at TP 1.
At TP 1 we can reassess the next play.
Gold is looking to be gearing up for a breakout through the current 1H range pattern.
If Gold breaks through the range high, we expect price to continue towards the Minor Resistance level (TP 1).
There it may lose some bullish strength and seek to retest the previous range's high before continuing towards the Major Resistance level (TP 2).
If the Current Range...
