GOLD - XAUUSD Waiting - 07/11/2017

On Monday, the price of gold showed significant growth, tested the resistance level of 1282.70 - 1284.60, after which it rebounded down. It is worth noting that the pair is still trading in the global consolidation (the lower limit - support 1264.40 - 1266.00), in which fairly large volume is concentrated. Given all of the above factors, the best decision will be to wait for the price to come out from the consolidation. The breakout movement must be sharp and on increased volume , which will be a more accurate and strong signal for entering the market. While the price is trading in this range, it's better to be out of the market.

The bottom line: wait for the instrument to come out from the consolidation
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