Gold Intraweek Technical Analysis :
Gold has been in a down trend for a while now. The strong support of 1625 has been tested twice now. The next time gold testes the support of 1625 it will be make or break. For bulls ,even the idea of testing the support of 1625 is scary. That is why they will try to hold the price above 1640 till Wednesday and then do a liquidity sweep on interest rate announcement. But if the price has moved to 1625 before the interest rate announcement it will be difficult for bulls to do a liquidity sweep. My idea for coming week is to do only intraday or short term trading in gold with only being on the long side. As the gold is oversold on higher time frames .
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics.
#XAUUSD #gold #goldtrading #goldtradingsystem.
Gold has been in a down trend for a while now. The strong support of 1625 has been tested twice now. The next time gold testes the support of 1625 it will be make or break. For bulls ,even the idea of testing the support of 1625 is scary. That is why they will try to hold the price above 1640 till Wednesday and then do a liquidity sweep on interest rate announcement. But if the price has moved to 1625 before the interest rate announcement it will be difficult for bulls to do a liquidity sweep. My idea for coming week is to do only intraday or short term trading in gold with only being on the long side. As the gold is oversold on higher time frames .
If you like this or if you think the opposite of this or if there is any other opinion, mention it in the comments. I am open to all kind of suggestions and critics.
#XAUUSD #gold #goldtrading #goldtradingsystem.