Gold Neutral idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: We are back to bearish on gold on the 4hour timeframe and are technically in an active trade. Once price action broke the 1950.00 support area we fell back into a pre-existing range.
Going forward into the week it is likely we will see price action start to consolidate.
Trade scenario 2: For us to consider gold bullish again we really need to see higher lows above the 1950.00 area. Good structure is key so we will have to wait for a trend to emerge.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: We are back to bearish on gold on the 4hour timeframe and are technically in an active trade. Once price action broke the 1950.00 support area we fell back into a pre-existing range.
Going forward into the week it is likely we will see price action start to consolidate.
Trade scenario 2: For us to consider gold bullish again we really need to see higher lows above the 1950.00 area. Good structure is key so we will have to wait for a trend to emerge.
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