Potential gold trade set up .
Fed Chair Powell said today that the fed is open to additional rate hikes dependant of the incoming data. I expect an epanding range going into the coming weeks. If gold comes down into the 1847 area I assume there could be a small bounce to retest the 1860 area which could potentially set up the next trade towards 1800, imo
Note
It would be safe to bring SL to break even in case price bounces back upTrade closed: target reached
but with recent cpi continuing to rise, can certaily drop lower to lower 18000 range , imo
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.