Trade Idea:
Gold is once again back at key support level ahead of Powell's testimony and CPI report. With volatility expected to increase in the second of this trading week, there's a high probability that gold could bounce back to major resistance again.
Trade Details:
Positioning: Long
Time frame: 1H
Length of Trade: 2 Days to 1 week
Entry: Between 1392.00 to 1387.00
Stop: 1380.00
Exit: 1435.00
Gold is once again back at key support level ahead of Powell's testimony and CPI report. With volatility expected to increase in the second of this trading week, there's a high probability that gold could bounce back to major resistance again.
Trade Details:
Positioning: Long
Time frame: 1H
Length of Trade: 2 Days to 1 week
Entry: Between 1392.00 to 1387.00
Stop: 1380.00
Exit: 1435.00