Gold has not being moving much since its festive season and there's not a lot of investors in the market at this moment but it can still be traded , with caution obviously ...and for this coming week i have 2 ideas lined up ...
Firstly , after the massive drop that happened last month , the market has been in a corrective type of structure for almost 2 weeks and it seems like its ready to break out of the structure now .
Judging from friday's market behaviour im very confident that price might breakout of the reversal pattern creating an impulsive move to the upside followed by a correction as identified as (1st setup) just above resistance zone (1790-94).
And the second outcome could be a break down bellow support zone (1759-63) as a confirmation that the market is trending down , and well after that i would like to see some corrective structure forming to allow more sellers in the market (2nd setup).
I will be updating throughout the week if setups turned out to be true or false or if there's another possible setup .
HAVE A BLESSED WEEK !!!
Firstly , after the massive drop that happened last month , the market has been in a corrective type of structure for almost 2 weeks and it seems like its ready to break out of the structure now .
Judging from friday's market behaviour im very confident that price might breakout of the reversal pattern creating an impulsive move to the upside followed by a correction as identified as (1st setup) just above resistance zone (1790-94).
And the second outcome could be a break down bellow support zone (1759-63) as a confirmation that the market is trending down , and well after that i would like to see some corrective structure forming to allow more sellers in the market (2nd setup).
I will be updating throughout the week if setups turned out to be true or false or if there's another possible setup .
HAVE A BLESSED WEEK !!!
