Unfortunately, gold did not show any significant move on Monday and the price remained trading in the middle of the global consolidation between two strong volume levels: the support 1264.40 - 1266.00 and the resistance 1287.70. We should note the presence of large volume accumulation in this range, so we must wait for the price to come out from it. It will be a good signal for entering the market. The exit of the pair from the range must be sharp and supported by large volume, which will be a stronger signal for entering the market. Until that it is better to skip this instrument from our trading plan.
The bottom line: trading only after a sure exit of the price from the range.
The bottom line: trading only after a sure exit of the price from the range.