Gold upside potential (XAU/USD)
Gold broke the September range high yesterday and returned back into it like before. I expect to see a strong reaction if price get to the lower end of the range below $1,200. If price gets there today or tomorrow I will be looking for buying opportunities around the $1,193 blue zone.
If we get a strong reaction, price may target the equal highs from last month. There is a good change this scenario plays out tomorrow during or after the Nonfarm payroll release at 12:30 GMT.
Good luck.
what means red cross?
Buy orders from other traders. Either stop losses on short positions or new buy orders from breakout traders. Hope that helps.
delta with big + at the moment? Short squeeze not always happening
Short squeeze would be if a swing low is broken. This is where new sellers are gonna come in. I don't consider any swing lows to be taken out at the moment, so no short squeeze expected.