Gold has been trading sideways for almost the whole month of October as the 1,485 - 1,520 High Volatility Zone on 1D has been weighing neutrally on the price (High Volatility Zone since August). Naturally 4H is highly volatile (ATR = 6.7236) and 1D still neutral marginally (RSI = 46.423, Highs/Lows = 0.0000) as it is currently testing the bottom (Support) of the Zone.
Based on the 4H RSI which appears to be repeating the last August-September sequence, we are expecting the 1,460 Gap to be fulfilled. After all 1,460 - 1,453 is the current 1D Support Zone. Above 1,520 the pattern is invalidated.
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Based on the 4H RSI which appears to be repeating the last August-September sequence, we are expecting the 1,460 Gap to be fulfilled. After all 1,460 - 1,453 is the current 1D Support Zone. Above 1,520 the pattern is invalidated.
** If you like our free content follow our profile (www.tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial