Gold Spot / U.S. Dollar

Short

GOLD (XAUUSD): Two Trading Plans For This Week 🥇

By VasilyTrader

Updated

snapshot

Gold is stuck in consolidation.
For the last 4 weeks, the market is trading within a horizontal trading range.

Here are two breakout trading plans for you to follow:

Recently the price reached the upper boundary of the range and retraced nicely.
If you missed shorting from there, consider 1789 - 1792 minor structure support.
Wait for its bearish breakout (you need at least 4H candle close below that),
then sell on a retest with 1765 being your goal.
In case of a bullish violation of the resistance of the range a bullish continuation will be expected.
You will need a breakout of 1808 - 1815 supply area.
Then buying on a retest your goal will be 1848.

Wait for the breakout & follow the market.

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Note

Check my new analysis on CADJPY:

CADJPY: Local Bullish Setup 🇨🇦🇯🇵

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