Golds technical are all over the place with not much making sense at the minute so we have tried to simplify it as much as possible.
You can see we have a support and resistance zone marked out on the chart, we can see further bearish movement pushing price into this zone.
Price hitting this zone will correlate with price hitting all time highs on US30 which will not break the highs so price will fall, now we have mentioned US30 because when US30 or USD fall then the price of gold goes up.
The state the US is in at the moment and US30 price been near all time highs only lead to a drop and this drop will catapult gold on a lovely bullish run.
SIMPLE rite? keep your trading simple and you will succeed, if you try and complicate things you will fail.
So this trade is short until our zone and then long for the long run.
You can see we have a support and resistance zone marked out on the chart, we can see further bearish movement pushing price into this zone.
Price hitting this zone will correlate with price hitting all time highs on US30 which will not break the highs so price will fall, now we have mentioned US30 because when US30 or USD fall then the price of gold goes up.
The state the US is in at the moment and US30 price been near all time highs only lead to a drop and this drop will catapult gold on a lovely bullish run.
SIMPLE rite? keep your trading simple and you will succeed, if you try and complicate things you will fail.
So this trade is short until our zone and then long for the long run.