Gold – Large Corrective Structure, Trading Both Sides | Aug 3
My Current Active Open Trades: EURUSD, EURGBP, & AUDUSD (option)
Gold – Large Corrective Structure, Trading Both Sides (4hr chart)
For the last 6 weeks, gold has been stuck between 1307 and 1372 with a couple pings on both sides. This large corrective structure combined with the summer liquidity suggests the range is likely going to persist.
Hence I’m looking to play both sides of the market with a medium term price action bias to the upside.
A break below the 1308/1300 support puts 1257 into focus while a break above the 1372/75 highs puts the big fig at 1400 into play.
Watch for updates in the member’s trade setups forum.
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