The Setups I am Seeing Before The US Elections

Dear Traders,

I would like to start with the fact that I will stay away from the markets before the US Election is done. I am having my opinion (technical), though. I am not going to delve into the fundamental reasons behind my vision on purpose. I will try to look at this as a non-event and go by just reading the chart.

My first setup is coming from XAUUSD (or Gold) Daily:

us election gold

As you can see from the above setup, Gold looks like it is getting ready for a big dive off the nearest resistance level. Still, I am not going to trade this event, since it is extremely speculative.

My second setup is coming from the S&P500 Daily. As you might expected, it is a bullish setup:

S&P500 US Election

Right or wrong, I am going to just look at the price action this time and wait for the first signal I have after the election results are out. I hope you do the same and stay on the sidelines, but it is ultimately down to you!

Happy Trading,
Colibri Trader