GC1! Gold on the 6 Hour Time Frame is currently following a trendline, and the market is trading inside an important zone.If the price respects the support of the zone, we will look for long opportunities. If the market breaks the zone on the downside, then we can plan for sell-side opportunities. Also, once we get a proper breakout or breakdown from the zone, trades can be planned with confirmation.
For short-term contract trading:
• Buy near support
• Sell near resistance
Entries will be taken on the 1 Hour Time Frame for better confirmation.
The 6 Hour Time Frame is being used because the price action is looking much cleaner and clearer on that timeframe.
So, you can plan your trades accordingly with proper risk management.
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