Gold price prediction for week 12-10 Oct
On 4 hour chart, gold has returned the major consolidation range between 1902-2015.
On 1 hour chart, Gold is forming an ABCD pattern where it is currently aiming to make a new high.
The ideal situation for next week is for us to buy this pair when the price drop near 1904.
If we do not see such opportunity, try to find an entry point in a lower timeframe ( eg, 15 mins) and buy when price break above a consolidation area within 15 mins chart.
This trade idea will be invalidated when price break below 1872.
On 1 hour chart, Gold is forming an ABCD pattern where it is currently aiming to make a new high.
The ideal situation for next week is for us to buy this pair when the price drop near 1904.
If we do not see such opportunity, try to find an entry point in a lower timeframe ( eg, 15 mins) and buy when price break above a consolidation area within 15 mins chart.
This trade idea will be invalidated when price break below 1872.