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Friday, May 21, 2021

Gold : Short term range of 1858-1880 possible for coming days

Gold : Short term range of 1858-1880 possible for coming days

Gold OANDA:XAUUSD

Around 1890 investors done their profit booking and its clearly visible in the chart , now we are seeing a 100-150 pip range forming inside 1858-1880 .Most probably this range will continue for some days and then we are expecting a minor correction below the 1850 handle since we have a strong resistance around the weekly upside channel and its tested one time (1890) . Stop hunts are possible 50 pips +- 1880 and 1852 so better is to scalp inside the Hourly TF range.


Trend : Up
Hourly : Range ( 1858-1880)
Signal : Short Scalp in the range top (1880-1883) and Long scalp in the range bottom (1852-1849)
Stop loss : Manual below 1852 and above 1880



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