Gold is in intact long trend with higher highs and lower highs. Gold is currently now pulling back from recent levels. In case of a retest of the last highs between 1216.42-1223.82, we will consider long trades against these levels with a potential stop-loss below the 61.8% Fibonacci retracement.
Initial target for gold is still 1280. So we will only consider long trades as of for right now.
We keep track of this. In case of a potential retest we will update this chart with the exact long setup. This chart will give you just a clue and sense of market direction. Trendlines or local highs and lows are useless when you don't know the structure of the market, please keep this in mind and use an tested strategy.
As always, trading is a probability game nobody is 100% right and always use a stop-loss when trading. Trade with care.
Cheers,
Secrets2Trade
Initial target for gold is still 1280. So we will only consider long trades as of for right now.
We keep track of this. In case of a potential retest we will update this chart with the exact long setup. This chart will give you just a clue and sense of market direction. Trendlines or local highs and lows are useless when you don't know the structure of the market, please keep this in mind and use an tested strategy.
As always, trading is a probability game nobody is 100% right and always use a stop-loss when trading. Trade with care.
Cheers,
Secrets2Trade
Trade active:
Trade was filled and is no running in decent profit.
Trade closed: stop reached:
We closed our gold long at breakeven!
