Gold: Intraday Short upon Completion of ABCD
Half of the first trading day has passed and the gold price has been climbing gradually towards the middle of the current range.
The gold is expected to consolidate throughout the first half of this trading week while anticipating for the Fed's decision.
The completion of the current ABCD formation could just determine the top of the day range for today which will then provide an intraday short opportunity.
If you choose to sell, be sure to take profit when the price drops and retest the demand zone near the range bottom.
On the other hand, if you are reluctant to sell the gold, you will have to wait patiently for the price to retest the range bottom the same before you go in for a buy.
The gold is expected to consolidate throughout the first half of this trading week while anticipating for the Fed's decision.
The completion of the current ABCD formation could just determine the top of the day range for today which will then provide an intraday short opportunity.
If you choose to sell, be sure to take profit when the price drops and retest the demand zone near the range bottom.
On the other hand, if you are reluctant to sell the gold, you will have to wait patiently for the price to retest the range bottom the same before you go in for a buy.
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