Several scenarios are still open in GOLD futures and today it looks like the future is following scenario 1 (see below picture).
Price found support at the 1,270 area while my model of Program Trading was anticipating slighly lower levels of support starting at 1,265.
Price could now just continue higher into the next resistance area starting at 1,380 (scenario 1). However we could also see a further correction into the support area between 1,245 and 1,265.
Below 1,265 GOLD could revisit previous lows (scenario 2).
If you want to have access to trading plans, watch weekly video reviews as I develop or record them, or get information on setups (before they happen) for the Euro-Dollar cross, the S&P500 index and some high volume stocks, please subscribe my newsletter. It’s free and you get additional content like market commentaries, setups, e-books, articles on HFT and program trading, learning material on my method and video-analysis that I don’t make available on my blog.
Thank you for subscribing should you decide to do so. Lots of other people are doing the same.
If you intend using this information for your trading please do your own due diligence, find the advice of a trading professional and trade at your own responsibility. The information provided is for educational purpose only. Please read the Disclaimer and accept all the risks. Thank you.
Have a good day