Gold Price Action – Bounces As Anticipated | Apr 1

Verified Profitable Trader

NOTE: We’ll be doing our next private member webinar this Friday at 9am EST where we’ll be discussing some of the live trade setups I’m in along with some of the other strategies and methods from this course. (Will announce registration details early this week).

Gold – Forms Short Term Base (4hr chart)
Yesterday in the members commentary, we talked about Gold forming a base and attempting to bounce. As you can see from the chart below, this is exactly what happened with the pair jumping over $25 off the lows.

Short term we have a base in place as the few hours of buying eclipsed almost a day of selling, suggesting have the momentum short term.

Any weak pullbacks towards 1180 and 1190 may be good opportunities to long. Taking out the weekly highs will add further upside risk, while a daily close below 1178 puts increased bearish pressure on.


Want to learn a key tip to improving your trading performance? Learn more by reading my latest article.

ALERT: Registration for our Advanced Traders Mindset Course is closing this April 2nd. Learn to re-wire your brain for successful trading.

Want More? My private members get all my trade ideas & market commentary 4x per week. Click here to become a member.

Related Article