#GOLD is now trading in a range
Between the horizontal support and resistance lines
So the only way for us to know, what happens next
Is to follow the direction of the breakout
However, is seems to me, that the bullish breakout is more likely
Because the support in that case in formed by more touch points
And the recent price action is bullish too
Therefore, I am biased towards seeing a bullish breakout
After which we can go long on the retest of the broken level
BUT wait for the breakout to be confirmed, and don't trade before it happens!
Buy!
Between the horizontal support and resistance lines
So the only way for us to know, what happens next
Is to follow the direction of the breakout
However, is seems to me, that the bullish breakout is more likely
Because the support in that case in formed by more touch points
And the recent price action is bullish too
Therefore, I am biased towards seeing a bullish breakout
After which we can go long on the retest of the broken level
BUT wait for the breakout to be confirmed, and don't trade before it happens!
Buy!