GOLD (XAUUSD): Two Potential Scenarios 🥇
Updated
As I predicted, Gold bounced to a strong horizontal resistance yesterday.
Analyzing the price action we may see a classic accumulation and indecision
within a contracting area based on a strong horizontal resistance and a rising trend line.
Based on a current price action I would consider two potential scenarios:
- Bullish breakout of the underlined blue area will most likely trigger a bullish movement
all the way up to 2000 level. - Bearish breakout of the rising trend line may lead to a bearish move to 1940 level.
Personally, I am very bullish biased and I am preparing for a bullish breakout.
But anything can happen.
Wait for a breakout & only then follow the market.
Let me know what do you expect?
❤️Please, support this idea with like and comment!❤️
Note
Check my new analysis on NZDCAD: 
✅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.