Currently I am waiting for gold to give some confirmation as to if it will continue bullish or turn against daily resistance and head south. Gold currently has daily bulls momentum, If price breaks to the upside I will be waiting for a pullback for entry. Gold is also creating lower highs on the 4hr, if price breaks under the light grey box I will enter after it pulls back.
Commento:
Commento:
Price has shown it couldn't break the 1250 area for the fourth time. A strong push from the bears came in. As an aggressive entry, I'm looking to sell gold on the pullback potentially where the trendline meets the support level(1240). A safer entry will be after the trendline is broken and entry on the pullback would be ideal.
Note: Although ill be looking for these positions, price may move back up one more time to the 1250 zone before breaking the trendline and finally turning bearish.
Note: Although ill be looking for these positions, price may move back up one more time to the 1250 zone before breaking the trendline and finally turning bearish.