XAUUSD short or long - 2 Scenarios Explained - UPDATE

Hello Traders!

I decided to do an Update now for GOLD.
In the last analysis I mentioned a possible short Trade and I that will confirm the trade.

We had no Price Action Confirmation to sell
and
No Price Action Confirmation to buy

What can happen now?
On Gold we got 2 possible scenarios.

#1 Price will not create a higher high and will drop down to the Demand Zone.
#2 Price will break the Resistance and will go up. At least to 1780. Final Target is 1800.

Overall Structure:
I mentioned in the video analysis that Gold is very bullish market. Also you need to keep the fundamentals in mind. Corona, ...
This are points that are pushing the price higher. Therefore the direction for Gold is long.
But this does not mean that we can not catch some nice pips at the correction moves. On Gold you got big correction moves therefore they are nice trade setups possible

You have seen in the last analysis how important it is to wait for price action confirmation. On Gold it is more important because this is a very aggressive pair.

So for now do not trade Gold. We simply got no confirmation right now to jump in short or long

That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.

Thank you and we will see next time
- Darius.

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