XAU/USD - GOLD - 02/11/2017
Nothing has changed for gold as the price is trading in the consolidation between two strong volume levels: the first one is 1264.40 - 1266.00 and the second 1282.70 - 1284.60. Besides it we must note the huge volume accumulation, which is located in this range. Given all these facts we can consider any new deals only after the exit of the price from the range, moreover, the breakout move should be sharp and supported by large volume, which will a stronger signal for entering the market. While gold is trading in the consolidation, we should stay out of the market.
The bottom line: wait for the sure breakout of one of the boundaries of the consolidation.
The bottom line: wait for the sure breakout of one of the boundaries of the consolidation.
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