XAUUSD in heavy consolidation again..

18 Eyl 2019

Gold has been ranging hard for a few days now between 1497 and 1508. I'm currently neutral on this setup because I'm waiting for price action break and retest to show me the move. I'm favoring the sell based on the bearish momentum on the weekly chart but waiting for price to break and retest 1497 area before selling, need a solid candle closure below before entering.. if I see a break above 1508 and retest then I'll be entering the buy. Be patient for this one, when gold consolidates like this it usually makes a big beautiful move, let price action tell you the way and let the market come to you. Risk management above all.