GOLD (XAUUSD) Price Action & Trading Plan
Updated
hey guys,
a lot of questions about gold.
since yesterday the price is testing a strong 4H structure resistance.
we see a sequence of 4 weak indecision candles and very low volatility.
on 1H the price is coiling within a horizontal decision range.
though it can be broken to both sides, I am planning to trade only bearish scenario:
we need a 1H candle close below 1724.0 support to confirm the breakout.
then we can sell aggressively or on retest expecting a continuation to 1714.0 as the initial target.
safe stop will lie above the last lower high.
if the price breaks the range to the upside, we just dont trade
Trade closed: target reached
New Analysis
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