jamesabuck

GOLD Update - Raiding Lows before Correction (Daily Time Frame)

Long
OANDA:XAUUSD   Gold Spot / U.S. Dollar
We've seen gold break out of a strong uptrend to capture some liquidity before a real move. I've marked on my chart the Point of Control Level. POC is where big institutions are trading the most amount of volume. In conjunction with weekly lows, a demand zone and POC - we should be able to get a really nice entry for some ridiculous returns. In the meantime, if you got stopped out trying to catch the move earlier, take the loss, accept the lesson and move on. DON'T REVENGE TRADE - you will lose. Patience is key. Hopefully, we can make some £ together!
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