Long Gold

COMEX:GC1!   Gold Futures
Gold has worked its way up this long descending channel , It is now sitting just key support at 1194.
Two trades here
Plan long at 1198
stop below 1193
Take profit above previous spike high around 1220
about 5 day trade

Bigger trade
long at 1198
Stop below 1165 the August spike low
Take profit at 1280
about 10 to 15 day trade
Note ascending pitchfork is Schiff Fork
Descending fork is non standard and used only to show slope
Trade closed: stop reached: Support has now become resistance
I will go short here and look to enter long again around 1130
We are now in final quarter of the year. Gold usually falls in November and December. We closed third quarter under 1200USD
You can see the clear slope down on the one minute chart.
Nice chart.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out