When you look on higher time frames you see things more clear, if you look at this chart you can see we have drawn on some clear support and resistance levels ( green lines ) and look how well they were respected price hit 1545 level and failed to break after 4 months of bullish movements, since then price has tried to break this level again and again failed so we can see bears taking over pushing price down to 1372
1372 also comes at what will be the 3rd touch of a monthly trend line, remember we always tell you that the 3rd touch with confluence (Old resistance turned new support in this case ) always makes for a strong setup.
If Trump gets a good trade deal with China done then USD will gain significant strength which will cause Gold to push lower but as we know with Trump nothing is certain well the only thing that is certain with him is that he wears a wig.
This is a very exciting swing trade opportunity with a possible 9000 pips on offer.
As always if you are trading then please use correct risk management!
1372 also comes at what will be the 3rd touch of a monthly trend line, remember we always tell you that the 3rd touch with confluence (Old resistance turned new support in this case ) always makes for a strong setup.
If Trump gets a good trade deal with China done then USD will gain significant strength which will cause Gold to push lower but as we know with Trump nothing is certain well the only thing that is certain with him is that he wears a wig.
This is a very exciting swing trade opportunity with a possible 9000 pips on offer.
As always if you are trading then please use correct risk management!