FX Price Action – Gold 20ema Carry – Upside Breakout? Apr. 30th

Gold
After two knocks on the key $1484 resistance, the precious metal has been climbing steadily, forming a 20ema carry on the 4hr chart. The bulls are slowly attempting to take out the critical resistance above, and their case is building. I’m expecting a terminus of this pattern in the next 24hrs. Bulls can wait for a breakout pullback setup above $1484, while bears can look to sell around this level with tight stops above, targeting $1464 and $1448. A clearing of the air above targets $1500, so plays on both sides here, but the FOMC meeting tomorrow could provide the extra juice to start the next move.

gold 20ema carry price action trading 2ndskiesforex.com

Visit ourĀ Free Beginners Course, & my newest trading article on theĀ Pin Bar Entries – the 50% Retracement Myth.

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

Related Article