Currently longing short through the US session. Reflecting back on preview trend following the support and resistance which is very well supported when trading gold. Went long on XAUUSD on wednesday around the 1700 area catching 100 pips each time after consolidating within each zone highlighted on the chart. Can see gold finishing shy of 1740 for the end of May!
As previously seen if you follow me this is the setup from the current week, heading into next week.
-Strong resistance at 1690 area where we seen previous rejections including a interesting spike and dramatic drop before close on Friday.
- Strong support at 1535-1540 as shown on chart (which i don’t see retesting for a couple days due to fundamentals
So here is my current setup on BTCUSD:
Current zone: $8700, looking to bounce around this area
$8700 area being a strong support zone (previous rejections in this area)
Target area 1 would be $8870
Target area 2 would be $9000 seeing high end of $9600-$9900