GOLD $XAUUSD August 4th - Intermediate Thoughts and Trade Ideas

Short

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

Updated

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

Seeing some flashy moves in this shiny element's market, there are signs to me that this action is related to carry trade activity amidst this potential reversal in equity volatility. I believe mkt perps are risk on to safe havens, with the Yen staying bid and Pound rally. personally I see this move in gold as a fade the breakout - for now. there is a lot of froth in the cup of money. over the quarter I think GOLD has a stage set to rally nicely and on the 2 year time horizon I do believe the prices will be relatively higher with surges of volatility seasonally.

Comment:

I have reason to believe the push is on to squeeze this up to 1804 resistance

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current trade working swimmingly, edged my SL, Structure pinning on a double top, markets open, hoping to find my profit

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all stops taken out at 1788, little flurry, took some off...

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closing this trade at 1786

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trade successful

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I moved stops to 1796

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