GOLD Range trade
Gold has broken the bearish structure with a descent push and is holding price outside of the bearish channel.
Expecting to trend back up towards the top of this range although will front run TP as I feel like we might start to make some lower highs forcing a squeeze on price again soon, not really expecting it to move fast to the top of the channel and break out.
The last hammer is a bit of a concern as we started to break out there was a big sell candle so dropping my risk down on this because the set up is solid with a descent RR, but current candle not as confident.
Expecting to trend back up towards the top of this range although will front run TP as I feel like we might start to make some lower highs forcing a squeeze on price again soon, not really expecting it to move fast to the top of the channel and break out.
The last hammer is a bit of a concern as we started to break out there was a big sell candle so dropping my risk down on this because the set up is solid with a descent RR, but current candle not as confident.
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