In yesterday's trading session, precious metal Gold was still in a sideways range (1793-1773). The gold price has not had a strong breakout yet and is still fluctuating within this range. So in my personal opinion in today's session, we still continue to buy and sell in these 2 bands.
Establish a buy position if Gold touches the 1770-1775 price zone and sell when it rises to the 179x resistance area.
#XAUUSD H1
The flat market price showed potential upside after the price rebounded when the market opened early this morning.
The slow rise managed to climb close to yesterday's high. That balance, there are 2 potentials seen at this point. The first is that the price resistance trend will be successfully broken to make a higher rise. Second, the price will still be in the horizontal area if only playing inside the port.
On the M15 timeframe, you can see the market price is testing on a small trend, and what you want to see is, whether the price is going to make a reversal or not. Should a reversal occur, the price should decline more strongly, as there is small resistance seen at the prices of 1786.00, 1784.00 & 1782.00
Without momentum, the probability for a declining price is difficult to happen and is considered a trap for a bullish to occur in the future. It is better at this point, to only focus on the buy set up so as not to get stuck in a market situation like this.
The prices mentioned above can be used as a guide to make an entry and include risks in accordance with the trade management guidelines that have been set.
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