forget biden pretending to come to a deal on the ceiling, the news only says they have no idea what they are doing and are putting it in the 2 hard basket, gold dropping over $130 in this time frame is prime for a come back. this is a golden opportunity. several targets located, need to break the 1955- 1960 for confirmation, 2k is always a struggle, this is a long play, zooming out to the weekly we can see a clear bounce of the 50MA. Do we really believe that all is well ? is gold cheap ? i believe all is not well and gold is most definately cheap
Trade active
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First target hit
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profits takenj at 1980 and scalp short in at 1979 for a retrace, waitng to re enter, idea iis still very long but its overbraught for the day wait for london and US
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1975 65 55 all areas to look at
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Long 1963 reason order block buy area medium risk of MA
I would not be surprised to see gold getting even cheaper. But in the long-term, I agree with you.
Singu51
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@Tradersweekly, yes well at the moment i seems overbraught so a nice retrace is what im looking for but i tink the bottom is in 1955 area would have to be the lowest i expect, looking at 75 break, possible wik up now to 1984 then back down 65 looks good too, its anyones game. once we break 1992 i put the bear in his cage for the month
zAngus
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Good call.
Singu51
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the position has been re entered 1936 long
Singu51
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the stop loss has been triggered but i believe it is still massive long opportunity the only question is will it hit the larger low channel level ov 1920-1925. good luck