Gold in sideways at a discount arrays level. Time to watch
Yesterday was really dramatic for Gold
XAUUSD
traders.
I explained the danger of an Inducement area located in the 1962 price range.
I guess many traders were expecting price to take off from what looks like a Resistance zone before being engulfed to the 1945 price range!
Today we're seeing some dip below a new consolidation range but I won't be there to get a new Short as price is no longer located in the Premium arrays.
Instead I am going to wait for a significant pullback to one of the historical range to Short Gold again.
XAUUSD
traders. I explained the danger of an Inducement area located in the 1962 price range.
I guess many traders were expecting price to take off from what looks like a Resistance zone before being engulfed to the 1945 price range!
Today we're seeing some dip below a new consolidation range but I won't be there to get a new Short as price is no longer located in the Premium arrays.
Instead I am going to wait for a significant pullback to one of the historical range to Short Gold again.
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Here's an example of historical range to illustrate the concept
