Mihai_Iacob

Gold- My trading scenarios

OANDA:XAUUSD   Gold Spot / U.S. Dollar
After Friday's reversal and strong rise, Gold is now consolidating and is stuck in "no men's land".
At this point I don't see any opportunity in either direction, long or short, so I have 2 trading scenarios:

1. Sell scenario:

If Gold, after this consolidations, continues up I expect to encounter strong resistance and sellers around 1940 and here I will look for a clear price action signal for selling

2. Buy scenario( preffered):


If Gold is correcting, without touching 1940 zone, I expect 1900-1905 to be an excellent place to buy and go with "the flow"

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