Forex Trade Setup - Gold Price Action Squeeze | Jan 23rd

price action squeeze breakout pin bar 2ndskiesforex.com jan 23rd

Gold
While many of the pairs have remained range bound, the precious metals have been continually gaining. Gold in particular is forming a price action squeeze which is a pre-breakout scenario.  You will see that we have all the ingredients in place, such as;

1) A Clear Resistance Level at $1695 (touched over 5x)

2) A 20EMA Carry (since Jan 17th)

3) And a Price Action Squeeze whereby the sellers are getting squeezed out of the market

Generally these lead to breakouts, so I am looking for a possible breakout retest setup.  Should this fail, then I’ll look for a potential short on the failure, towards $1684.

For those wanting to learn to trade price action, access to the traders

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