Good Evening Gold Riders

Today it was range bound market and gold trade between 5 points around 1087-1092.
We were expecting a bounce today but it doesn’t happen.I am giving you an idea to trade this range bound market with two kind of analysis.
If we look close in 15 mint time frame, we will see three major support levels and these level will be the buyers Jump in point. Immediate supports are around 1087, 1079 and 1073
Movement bellow 1073 will invalidate the bullish bias.
If gold couldn’t break its first support then the watching level for buyers will be 1097 “Immediate resistance”
Breaking the first resistance level will give more confidence to buy the gold and first target will be 1111-1113.

So our recommendation to trade is
1:- Buy half position at 1087
Half position at 1079
Stoploss below 1073-71
Target : 1111-1113

2:- Buy Stop 1097-98
Stoploss : 1085
Target : 1111-1113

Alternate : Movement below 1071 may give us a new low in gold below 1030

Always trade with stoploss with money managment rule, and dont risk high capital in single trade

Gold 1 Hour

Gold 4 Hour

Gold 15 Mint

Gold Daily

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