Gold... the one pair everyone loves to trade but probably the one they lose the most money on! Why? because they don't enter in the right place.
This is our look on it. 1901.006 is a very interesting level we are about to reach.. if we reach it. It was our last daily strong level before it dropped. Now we could see price push to here and when it does we will look to sell it off this level (arrows to show)
However, we can see on the stochastic that price is looking like it is running out of steam. In the instance that the Dollar starts to gain some strength we will wait for the break and then the retest of this bullish trend line and then we will sell. Do not sell on the break as price should come back to test the level before it has it's drop.
This is our look on it. 1901.006 is a very interesting level we are about to reach.. if we reach it. It was our last daily strong level before it dropped. Now we could see price push to here and when it does we will look to sell it off this level (arrows to show)
However, we can see on the stochastic that price is looking like it is running out of steam. In the instance that the Dollar starts to gain some strength we will wait for the break and then the retest of this bullish trend line and then we will sell. Do not sell on the break as price should come back to test the level before it has it's drop.