Which way GOLD will go ??
Although we don't have a proper price of MCX GOLD in trading view, but the charting structure is sufficient to analyse the current market structure of it .
if we look at last two months of gold , September was full of amazing sell-off with the long consolidation of October month , which looks like at it its completion .
consolidation zones: Support- around 37800 zones and Resistance- around 38600 zones.
whichever way the consolidation breaks-out its going to be a good trading opportunity, so currently its time for wait and use the non-trending trading strategies for gold and just wait for break out.
so lets just try to follow and be with the market instead of beating it , so its better if we just wait for the proper confirmation that which side the gold is going to trend now.
if we look at last two months of gold , September was full of amazing sell-off with the long consolidation of October month , which looks like at it its completion .
consolidation zones: Support- around 37800 zones and Resistance- around 38600 zones.
whichever way the consolidation breaks-out its going to be a good trading opportunity, so currently its time for wait and use the non-trending trading strategies for gold and just wait for break out.
so lets just try to follow and be with the market instead of beating it , so its better if we just wait for the proper confirmation that which side the gold is going to trend now.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.