Monday, September 19, 2016

Market Psychology On Gold Futures Range Morning; SchoolOfTrade.com



Gold started off with a nice gap higher and will be seen as a breakout attempt but given the range of Friday, likely to fail at least for a breakout into a pullback to the area of support. Traders obviously felt the same given the huge bull failure at the top!

We pulled back to the area of support from Friday where buyers immediately swept back in for a move back up to the highs where we then found sellers to fully confirm the range with a push back to the lows again.

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