Gold moves sideways in Prelude to Fed Meeting
As the United States and the rest of the world wait to hear if the Fed will raise interest rates tomorrow at 2:00 pm EST, Gold continued moving sideways right at the 1200 price level. Price did remain under the 6 day moving average and under all other significant moving averages as I have been pointing out this last week. In addition, we have now finished our 10th red Heikin-Ashi candle in a row. So while the bear run is still intact, anything can happen tomorrow.
On the volume profile, we are still waiting to see if price will go back and fill in the area at the low volume node around 1190.
Volatility will probably return tomorrow and move the needle on Gold to set up the next run. Stay tuned and good luck trading.
Disclaimer: This post is for educational purposes only. Trade at your own risk.
On the volume profile, we are still waiting to see if price will go back and fill in the area at the low volume node around 1190.
Volatility will probably return tomorrow and move the needle on Gold to set up the next run. Stay tuned and good luck trading.
Disclaimer: This post is for educational purposes only. Trade at your own risk.
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