GOLD (XAUUSD): When Will the Next Bullish Move Start?

30 janv. 2021

hey traders,

Though gold was quite impulsive and bullish on Thursday and Friday,
analyzing 4H structure we can notice that the price is currently stuck within an expanding range with equal highs and lower lows.

It is a classic variation of a sideways consolidating market.

Being bullish biased, we must admit that the next major swing move will start only after a bullish breakout of the resistance of the range.
Only then a strong bullish continuation will be expected.

For now, follow the boundaries of the range and consider them for intraday trading opportunities.

Good luck!

1 févr. 2021

Note

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