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How to trade Gold now? A winning strategy!

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Dear traders, Gold is currently in no trader's land ;)
which means Gold is currently at a congestion zone from where
price could break out either way.

On the 4Hour chart, we can see the formation of descending
triangle pattern+ failure to break the dynamic resistance. A combination
of the two factors gives us a bearish bias
.

On the daily chart, however, Gold is bouncing on the 100-day EMA
and so far, price has not gone below it. This is a slightly bullish signal.

So, you can see that we are getting conflicting signals from Gold. So,
it would be wise to apply breakout and retest strategy here
If the price
breaks 1960, and successfully retests it, we go long. On the other hand,
if price breaks the lower support of the descending triangle pattern,we
consider short entries.
הערה
Looks like Gold might decline today
הערה
As expected, price has declined. Almost 200 Pips
הערה
1930 level if offering some support
הערה
Minor bounce at the support level תמונת-בזק

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