GOLD (XAU/USD): zone-to-zone trading. Another impulse pending?
The massive bearish reversal at the 1960 - 1950 region has led to a dramatic drop in the price of Gold. Luckily, the price action has been absolutely fantastic and ideal for entering both short and long term trades and riding the bearish waves.
We may observe how the price has been actively following the impulse + correction pattern. At the moment, we are sitting on the 1820 - 1830 level of crucial support, with the price looking ultra bearish.
If things play out in accordance with the plan, we are expecting another massive impulse to the downside. The target has been set at the area highlighted on the graph. However, we will be looking into trailing our Stop Loss and securing positions along the way.
Have a profitable Thursday!
We may observe how the price has been actively following the impulse + correction pattern. At the moment, we are sitting on the 1820 - 1830 level of crucial support, with the price looking ultra bearish.
If things play out in accordance with the plan, we are expecting another massive impulse to the downside. The target has been set at the area highlighted on the graph. However, we will be looking into trailing our Stop Loss and securing positions along the way.
Have a profitable Thursday!