GOLD (XAUUSD): Trading Plan Ahead of NFP 🥇

Today we are expecting the US NFP report.
Here are the potential scenarios for Gold.

Bearish
If the price drops and closes below 1998 key daily structure support,
it will be a strong bearish signal and a further decline will be anticipated
at least to 1978

Bullish
The price formed an inverted head and shoulders formation on a 4H time frame.
Bullish breakout of its neckline - 4h candle close above 2041 will give you
a strong bullish confirmation.
A bullish continuation will be anticipated at least to 2060 level then.

Patiently wait for a breakout and then follow the market.

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تعليق:

Here is my updated analysis: