Gold has been trading in a wedge pattern for more than a year. Will we go up or down?
1870 is a huge level for gold. we either continue up and pass this level, or we reject it and go down to fill the imbalances below 1750.
3 levels of curiosity are:
- 1753
- 1721
- 1679
I can*t see Gold continuing up past 1880 level with out price touching the levels posted above. the market doesn't like imbalances and tends to fill CME gaps and Liquidity zones
When we see price break the wedge its been in for almost a year now it will be a big move! A wedge or consolidation phase acts as a spring or a bottle of coke being shaken up. The orders all gather together and create a lot of volatility in the market.. We*re basically waiting for someone to accidentally hit the button.
KEY LEVELS:
SUPPORT - 1753, 1721, 1679
RESISTANCE - 1876
Happy Trading Friends
1870 is a huge level for gold. we either continue up and pass this level, or we reject it and go down to fill the imbalances below 1750.
3 levels of curiosity are:
- 1753
- 1721
- 1679
I can*t see Gold continuing up past 1880 level with out price touching the levels posted above. the market doesn't like imbalances and tends to fill CME gaps and Liquidity zones
When we see price break the wedge its been in for almost a year now it will be a big move! A wedge or consolidation phase acts as a spring or a bottle of coke being shaken up. The orders all gather together and create a lot of volatility in the market.. We*re basically waiting for someone to accidentally hit the button.
KEY LEVELS:
SUPPORT - 1753, 1721, 1679
RESISTANCE - 1876
Happy Trading Friends