Gold continues trading sideways inside of a triangle pattern. We already had some false breakouts and possible entries.
If you don't have a trade yet, then do not rush!
Wait for a breakout above 1817 - a breakout means price closing above this level!
Once we see a breakout we could then look for short term trades with targets at 1829.
This is a significant resistance at which we could see participants collecting profits.
Then if we eventually break above that level as well, we could again enter long expecting for price to reach 1855.
Whatever the case is make sure to wait for a confirmation and use a smaller lot size in market conditions like this.
If you're looking for more conservative trades, then wait for a breakout of 1829!
If you don't have a trade yet, then do not rush!
Wait for a breakout above 1817 - a breakout means price closing above this level!
Once we see a breakout we could then look for short term trades with targets at 1829.
This is a significant resistance at which we could see participants collecting profits.
Then if we eventually break above that level as well, we could again enter long expecting for price to reach 1855.
Whatever the case is make sure to wait for a confirmation and use a smaller lot size in market conditions like this.
If you're looking for more conservative trades, then wait for a breakout of 1829!
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