If you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
Underlying:XAUUSD
Time frame:1D
The one saving grace right now is that gold is starting to bounce a small amount on Friday. This is revesing in the "wider" range we identified last week.
What do we need to happen now? Ideally we would like to see Gold get back into the "main" range so we can take a buy position. The thing that is stopping me from doing that at the moment is the MACD indicator. Currently the two EMA's have not crossed over the historic range (the red bars on the MACD). Until we get a clear move away from them I will not be buying a lot. It is also a small problem that I feel the USD is about to increase in value!
Keep your eyes peeled as it could move without me posting on it!
Underlying:XAUUSD
Time frame:1D
The one saving grace right now is that gold is starting to bounce a small amount on Friday. This is revesing in the "wider" range we identified last week.
What do we need to happen now? Ideally we would like to see Gold get back into the "main" range so we can take a buy position. The thing that is stopping me from doing that at the moment is the MACD indicator. Currently the two EMA's have not crossed over the historic range (the red bars on the MACD). Until we get a clear move away from them I will not be buying a lot. It is also a small problem that I feel the USD is about to increase in value!
Keep your eyes peeled as it could move without me posting on it!