After bouncing off the Daily OB at the start of the month, we have seen this pair slowly working its way towards, another OB in a sell trend.
It is currently testing and retesting a 4HR OB, I wont be entering a trade until I have seen a price movement from this area, however I will be looking for a long term sell into the 0.88195 area.
As always I will be...
Gold right now is trading within the golden zone of our fib set up, in a well respected area. I will be looking for a long position into 1800 towards the end of the week, with so much liquidity holding above 1776. Will be looking for a break above the Golden zone and a retest in order to confirm the move.
SL is tight so should consider an area of 1764 for this.