where gold is going next? trading plan for gold
hey traders,
I was so surprised that so many people struggling with gold analysis.
Indeed, watching the gold chart on the daily, it is difficult to make the exact projection.
however, if you ask me where the gold will go next,
my simple answer will be - I DONT KNOW!
however, for next week I give you a set of conditions to be met
to easily identify the market future direction.
as you see, after a sharp bullish movement to 1350 level,
bears have violated a rising channel and also broke a couple of levels of support.
now zone around 1280 is the last resort for bulls.
if during next week bears will break this level and close below it, I will be looking for selling opportunities and my bias will be bearish.
however, if I see a formation of a reversal pattern on a lower timeframe inside this support zone,
I will buy the market projection the retest of the market high.
so lets just wait and see and depending on the market conditions will set our trades!
good luck!
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