Gold- My trading scenarios
After Friday's reversal and strong rise, Gold is now consolidating and is stuck in "no men's land".
At this point I don't see any opportunity in either direction, long or short, so I have 2 trading scenarios:
1. Sell scenario:
If Gold, after this consolidations, continues up I expect to encounter strong resistance and sellers around 1940 and here I will look for a clear price action signal for selling
2. Buy scenario( preffered):
If Gold is correcting, without touching 1940 zone, I expect 1900-1905 to be an excellent place to buy and go with "the flow"
At this point I don't see any opportunity in either direction, long or short, so I have 2 trading scenarios:
1. Sell scenario:
If Gold, after this consolidations, continues up I expect to encounter strong resistance and sellers around 1940 and here I will look for a clear price action signal for selling
2. Buy scenario( preffered):
If Gold is correcting, without touching 1940 zone, I expect 1900-1905 to be an excellent place to buy and go with "the flow"
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