GOLD (XAUUSD): NFP Ahead! Your Plan: 🥇

2 giu 2023

Today we are expecting US Non Farm Payroll report.
Many of asked me to share the plan to trade the news release on Gold.

Analyzing a daily time frame, we can spot that at the moment the market is approaching a key horizontal resistance.
To buy the market with confirmation, I would suggest waiting for a bullish breakout of 1978 - 1985 area.
Its violation will trigger a bullish continuation at least to 1999.

Those, who want to short, patiently monitor 4H time frame.
The market is currently stuck within a narrow range, perfectly respecting the above-mentioned resistance and
1969 - 1974 minor support.

Your trigger to short will be a bearish breakout of the support of the range and 4H candle close below.
Next goal will be 1956.

Wait for a breakout, traders and be patient.

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