Gold, a closer look
I saw the levels of last week and bough some in the deep on 1248 and sold at 1255. Also managed two out of 4 shorts on the way done, making it quite of a nice day overall. So, here are my thoughts.
It was pointed out number of times, that April is historically high month for gold, however, I don't think the fast growth so far. This makes me think if that was not all for this month, and 1300 might be further than we think. If that's the case, we might see a quick elevator down. Nevertheless I am trying to keep it positive.
My targets are to buy low and sell high:
1248 sl 1245 tp 1271
1251 sl 1248 tp 1263
1254 sl 1251 tp 1257
I saw the levels of last week and bough some in the deep on 1248 and sold at 1255. Also managed two out of 4 shorts on the way done, making it quite of a nice day overall. So, here are my thoughts.
It was pointed out number of times, that April is historically high month for gold, however, I don't think the fast growth so far. This makes me think if that was not all for this month, and 1300 might be further than we think. If that's the case, we might see a quick elevator down. Nevertheless I am trying to keep it positive.
My targets are to buy low and sell high:
1248 sl 1245 tp 1271
1251 sl 1248 tp 1263
1254 sl 1251 tp 1257
Comment:
I like the fib retrace. Slowly getting close to 1260
Trade closed: target reached:
wow, that was indeed fast. I reached the tp 1273.25.
Have to revisit my drawing board, but generally expect pull back to downer levels of 1263 and 1254.
Have to revisit my drawing board, but generally expect pull back to downer levels of 1263 and 1254.