I am waiting for Gold to rise to the supply level shown around 1841 zone, and then prepare for price to melt and break structure to the downside. I am using technicals as well as price action to form my trade idea as well as following my trading plan. I do have an alert set to see when price gets above 1842.19 area because this is where I will be looking for multiple confluences to support my reasoning for entering the trade for a sell. Due to news already happening in the New York session, this move could potentially happen on a later, more volatile session, such as London, or even occur another day. As we are coming to the conclusion of the week. I am being patient and just sitting back to see what happens, allowing the market to come to me.
Disclosure: *Trading foreign exchange carries a high level of risk. Trading is not for everyone and losses could easily exceed investment capital. Results are not typical. Use proper risk management and smaller lot sizes to protect accounts.
Disclosure: *Trading foreign exchange carries a high level of risk. Trading is not for everyone and losses could easily exceed investment capital. Results are not typical. Use proper risk management and smaller lot sizes to protect accounts.