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Underlying: XAUUSD
Time frame: 1D
So I was looking at gold's recent sell off and noticed that we are in a range. I have shown two areas, the main area shaded in orange and the slightly larger range when it spikes outside. I am looking at a reversal of this move down and have opened a buy position now as we are close to the lower end of this range. We are also trading on the lower band of the Bollinger Band which is where we could see a bounce. Keep a close eye though, we know that it can be volatile!
Underlying: XAUUSD
Time frame: 1D
So I was looking at gold's recent sell off and noticed that we are in a range. I have shown two areas, the main area shaded in orange and the slightly larger range when it spikes outside. I am looking at a reversal of this move down and have opened a buy position now as we are close to the lower end of this range. We are also trading on the lower band of the Bollinger Band which is where we could see a bounce. Keep a close eye though, we know that it can be volatile!