Gold - Let's Go!

Kindly turned into a meme by one of the members 😂

We wanted that 3275 level from below but only managed 3250-55 again. That fact that we're struggling to break above the 3255 level should entail caution now as the range continues, possibly until all the news releases during the NY session.

Support here stands at 3230 which they're trying to break with the lower levels open and a pattern in play. Now, after testing for years, we've found this pattern usually gives a false breakout to one side, gets traders in the wrong direction, then makes a move the other way.

So what do we do? We're scalping on the Red box indicator which is giving us 50-80pip trades in the range, but now it's getting a bit risky due to the pending breakout. We'll wait lower to long, or we'll wait higher to short, simple as that.

The key levels today are 3255 resistance and 3220 support. The bias level remains the same as yesterday, 3240 and as you can see we're playing either side of it, so that's a strong bias level thankfully.

Red box target levels remain the same as we're still in the same position

RED BOX TRADERS 🔥

We wait now for the price to exhaust, not just enter at random intra-day levels

The longer the accumulation, the bigger the breakout, so we can't trade against it until it gives us a sign that it wants to turn. Otherwise, bearish bias level worked well as per this mornings messages, targets complete, red boxes smashed it.

This is a guide, not trading advice.