SoManyDistractions

Gold Setup Idea: Pre New York (Oct 4, 2022)

FX:XAUUSD   Gold Spot / U.S. Dollar
Please note that these long and short positions are not at all strategically positioned; instead I simply am showing a general idea of what price could do, so please set your own SL and TP. But the fact is price has been extremely bullish since last week when the weekly candle respected a supply zone. Price is now retracing which shows us the bullish daily candles, and today may be another bullish day. I could envision price forming support pre-ny on 30M timeframe around $1700 level for another retest of london high, and then potentially further. But if price returns bearish on 1H and close below $1700, and then continues below $1695, sells could be very good too. Let us see what NY has in store for us. Also, News at 8am to remember.

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