GOLD (XAUUSD): And Now We Are in Consolidation! What is NEXT? 🥇
Hey traders,
It turned out that 🔻gold is now trading in a consolidation.
The test of 1834 local structure high and a consequent bearish reaction
make the market stuck in a horizontal trading range.
1790.0 - 1794.0 is its support.
1830.0 - 1834.0 is its resistance.
It looks like bears will push to the lower boundary of the range now.
I managed to catch a very nice short trade from the resistance with a nice double top as a confirmation on 1H.
I will hold my short trade during the weekend.
1️⃣ If you missed shorting, wait for a test of support for buying.
2️⃣ Alternatively, the retest of the range's resistance may give a nice spot to short.
Don't forget about an intraday confirmation as your entry reason.
❤️Please, support this idea with a like and comment!❤️
Note
Check my new idea on EURGBP: 
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
Related publications
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.