GOLD (XAUUSD): Your Ultimate Trading Plan For Next Week 🥇

5 Jun 2022

Hey traders,

A lot of questions about gold.
And I guess we all agree that the market is very stubborn at the moment.
It looks like the market maker managed to fool everyone.

Analyzing a price action on a daily, I spotted a horizontal trading range where the price is stuck at the moment.
1824 - 1837 is its support.
1866 - 1874 is its resistance.

Next week I would suggest looking for a breakout trade:
bearish violation of the support of the range will trigger a bearish move to 1793
while a bullish breakout of its resistance may initiate a bullish movement to 1905.

Alternatively, you can consider trading the market within the range
buying from its support and selling from the resistance.

Good luck next week!

❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️

6 Jun 2022

Catatan

Check my new analysis on GBPCAD: