XAU: Gold/Silver index in a strong uptrend
The Gold/Silver index is well supported here, against the former long term downtrend resistance, now turned support, plus the recent uptrend mode (most frequent price in the advance).
If we have good follow through to the upside tomorrow, we can expect a sizeable bullish move in precious metals.
For both gold and silver instruments, you can enter longs at market or on a break of Thursday's high, with stop loss 1 tick under the low.
Check out the top down view in the comments section.
Cheers,
Ivan.
pd: if interested in access to my trading signals, contact me for a free trial.
If we have good follow through to the upside tomorrow, we can expect a sizeable bullish move in precious metals.
For both gold and silver instruments, you can enter longs at market or on a break of Thursday's high, with stop loss 1 tick under the low.
Check out the top down view in the comments section.
Cheers,
Ivan.
pd: if interested in access to my trading signals, contact me for a free trial.
Comment:
Comment:
Comment:
Excellent reaction to support after NFP.
Trade closed manually:
The reaction to the low volume resistance here makes me think it's wise to close positions and wait for fundamental events to pan out. XAUUSD and XAGUSD show potential for more upside, but we need further proof.
