Buying power is slowly evaporating at resistance
It is now clear to us that gold is in unnatural trading conditions. The increase in interest rates in addition to the dovish stance, the market has turned to the bears and the buying power is slowly evaporating. However, I'm currently waiting for a breakout to give us a clear direction. In the next week, I am waiting for the support zone to be broken on the chart and if the level 1766.31 is broken, I will sell gold around that price until 1746.90. I am currently lowering my Risk from 2% to 0,5%, due to my last two stop loss activations, until the dust settles and gold is a little clearer.
Good luck traders.
Good luck traders.
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