Same play again? Ugly but looks like a wedge again, same spot

Long

CFDs on Gold (US$ / OZ) (TVC:GOLD)

Updated

TVC:GOLD CFDs on Gold (US$ / OZ)

My last trade on gold was picture perfect, bought on exactly the low and sold half at the top of this move.
Anyway, looks like Gold has made the exact same pattern again, this Wedge is not so clear as the previous one, but it has the characteristics of one. So i just went long again. Stop just below 1320. Targets are not clear yet.

Stock markets made a massive rally last 2 days, so probably why gold made a drop again. Stock markets will probably cool down today or tomorrow. What could only confirm the up potential of the gold price

Comment:

Previous analysis

Gold making a wedge, could see a small rally soon

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Futures are crashing now, pushing gold price up :) i have closed half already. Other half put the stop at the entry level and going to let the rest ride

Comment:

I kept half my position on because i thought price could get closer towards 1338.Those got sold at entry level and the other at 1331. So still a good trade. FOr now, it's not sure, but the 1320/1325 seems like a big support level. So my guess is that price will probably turn up again. Not trading on it (yet) because i have no pattern to confirm a buy signal.

Comment:

I just bought at 1323, stop at 1319.

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And i already closed half again at 1329 :)

the rest stop at entry level

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I have moved my stop to 1328, and i have a target now around 1342

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Forgot to update sorry, but the target was reached at 1342 :)

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