GOLD - Weekly ranges overview
Here is a quick look into the current state of affairs on GOLD.
We are basically retesting the midrange and trading within it from a weekly.
IF you want to get involved with GOLD at these levels on the short term I would encourage you to be careful and take scalps and intra-day trades . NO NEED TO START OVER LEVERAGING
As you can see we are still trading within the red range.
We have deviated on the top side and the bottom side for now --> liquidity has been taken on both sides and both sides are trapped. (April - May bulls are trapped) (September- October bears are trapped)
We will WAIT and SEE how we play from here.
IF you are not sure of your trading or of the directional bias ZOOM OUT and tell ask yourself 'What would I do if this 1 week, 1 month or 3 months chart was a 15min or 5 min chart?'. The charts and the markets don't change. It is all ranges, only the TIMEFRAME CHANGES
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
We are basically retesting the midrange and trading within it from a weekly.
IF you want to get involved with GOLD at these levels on the short term I would encourage you to be careful and take scalps and intra-day trades . NO NEED TO START OVER LEVERAGING
As you can see we are still trading within the red range.
We have deviated on the top side and the bottom side for now --> liquidity has been taken on both sides and both sides are trapped. (April - May bulls are trapped) (September- October bears are trapped)
We will WAIT and SEE how we play from here.
IF you are not sure of your trading or of the directional bias ZOOM OUT and tell ask yourself 'What would I do if this 1 week, 1 month or 3 months chart was a 15min or 5 min chart?'. The charts and the markets don't change. It is all ranges, only the TIMEFRAME CHANGES
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.