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Underlying:XAUUSD (GOLD)
Time frame:1D
This is a tough one to trade. Recently I posted a gold chart showing the "main" range and then a slightly larger range. Yesterday we broke below the "main" range and entered that wider range which is a much better opportunity to get long, if you are wanting to get long Gold.
One important thing to note; is that the MACD on the daily chart has not fully passed below the centre line and could mean a grind lower still. Once that has passed the centre line (0) it may be an even better time to get long. Play this one carefully. I will keep posting updates as things progress.
If you want to place a stop you can do so outside of the wider range around 1250.00 at least.
Underlying:XAUUSD (GOLD)
Time frame:1D
This is a tough one to trade. Recently I posted a gold chart showing the "main" range and then a slightly larger range. Yesterday we broke below the "main" range and entered that wider range which is a much better opportunity to get long, if you are wanting to get long Gold.
One important thing to note; is that the MACD on the daily chart has not fully passed below the centre line and could mean a grind lower still. Once that has passed the centre line (0) it may be an even better time to get long. Play this one carefully. I will keep posting updates as things progress.
If you want to place a stop you can do so outside of the wider range around 1250.00 at least.