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Gold-short

Gold coming with that basement floor energy?Hi Traders, Today is the 1st day of the new month and I am once again looking at XAU/USD (Gold) I am loving the current price action on the H4 timeframe, Price has created a double top at 1868. And 1862, Price has been moving bearish ever since with no bullish candle in sight. We have now reached 18.30 where price is currently ranging, I believe price could play around this level for a while to accumulate enough strength to push and break that support. If price manages to break the support we have a clean range of 160 pips to the downside. I will be watching this one very close as I do not want to miss out on the move should it happen, We also need to be careful and vigilant because we could see a liquidity grab resulting in price pushing up after breaking the support, So my best way to enter would be for price to close below support and then retest the zone and then start the continuation to the downside. Remember we have a 160 pip range so that means we do not have to enter immediately, we have enough range to make some money even with a late or conservative entry. With that being said, I would love to this move play out around pre-New York or during the New York session.
FOREXCOM:XAUUSDShort
by Tradebudz
Potential shorts coming up on GOLD Hi Traders, I am looking at XAU/USD this morning as the London session has kicked in, Price has dropped since the Asian session open, then reversed to the Asian open within the session, We now see that price has wicked the top of the Asian session and seems as if this could be a liquidity grab to fuel price back to the Asian lows, I love how the current h1 candle is looking, I would like to see price close and then I will be looking for shorts if price creates a minor pullback, Keep in mind that price does not have to do anything, We can only react to what it gives us. I will be looking to target the Asian lows at 1846. And I will be securing profit on the way down. This is a simple yet effective setup if it plays out. Remain patient and trade what you see, not what you think should happen. Renaldo Philander.
OANDA:XAUUSDShort
by Tradebudz