In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, a Gold sell is potentially next in line for the USD.
What we mean by this is that the USD has been strengthening over the last few days. This would become very obvious if you have viewed the last few Daily Trade Watch videos. We have already been in the EURUSD, GBPUSD and USDJPY, and now we are looking to add the Gold market to the list of dollar strength markets out there.
As we look at the Gold chart, we can see a significant period of slightly bearish consolidation since mid-August. However, yesterday’s low bounced off the 1459 low from 1st Oct. 2019. As a result, we want to see prices push below the 1459 low to give us the extra confidence we need to get into this high probability sell trade.
Gold Sell Potentially Next in Line for the USD – Full Video Analysis
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