I feel like we have a few more days/weeks of this tight consolidation before another move, 50/50 on the fence here during various times of uncertainty in the markets alot of people claim to rush to gold, how ever often gold markets go with the initial move of equity markets and then can some times recover strong when the dust settles.
The current range I think has been defined and the key levels im watching now is 1765 and 1796 but wanting to see the volume spike before a rally with in the range to either the downside or upside.
Happy to enter at market with low leverage and wide stops to reduce being taken out early as i doubt we will get the ideal retest for a better RR.
At the end of the day I still feel gold is ranging with in the 1680 and 1920 level so not expecting fireworks out side of this small break just an idea of direction and a short term trade.
The current range I think has been defined and the key levels im watching now is 1765 and 1796 but wanting to see the volume spike before a rally with in the range to either the downside or upside.
Happy to enter at market with low leverage and wide stops to reduce being taken out early as i doubt we will get the ideal retest for a better RR.
At the end of the day I still feel gold is ranging with in the 1680 and 1920 level so not expecting fireworks out side of this small break just an idea of direction and a short term trade.
Comment:
send it
Trade active:
quality liquidity grab at the bottom of the range before really strong momentum on the break out of the consolidation, loving the conviction right now so happy to stay in this for a while now.