XAUUSD
Hello Traders!
What are your thoughts on GOLD?
After a strong bullish rally, Gold has entered a range-bound consolidation phase between clearly defined support and resistance zones.
At the moment, price is trading within the range, and positions taken in the middle of the range carry elevated risk, as price can reverse sharply from either side and trigger stop losses.
Trading Plan:
In the short term, the preferred strategy is to wait for a confirmed breakout from the range:
1Bullish scenario: A clean break above the resistance zone, followed by a pullback and continuation to the upside
2Bearish scenario: A confirmed breakdown below the support zone, followed by a pullback and continuation to the downside
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