Previously looking for buys at 1.23500 support but decided to wait for price to form support above 1.24055. Price may just be moving funny or wee still may have a weak pound looking bearish. I've also spotted Hidden Bearish divergence on the 1hr timeframe so we may see a nice push back to the downside.
From my education in forex, I have learnt from multiple people that Monday can be a manipulated day in the industry caused by, big hedge funds and banks. I always allow to have Saturday off, come to the charts on Sunday, and begin a week ahead analysis and today would have been a 'perfect' day to trade in, but I stuck by my rules and I'm now having to overcome...
Market is in the range. I would like to go for long position for a samll period when it hits the defining support area.
Two probabilities on gold this Monday If gold goes down by breaking, it's a sell signal If the gold remains above support, it is a buy signal
Broke the resistance with powerful momentum. We can see that resistance is a support line now. Dollar index getting weak too. I find this a buy
after biggest decline gold is rising again in parallel channel . lets see whats happen on Monday
Ideal entry after 1.30805. Comment below if you are agree!!