Rookie398476049358670
Long

Gold: A solid long from here

FX_IDC:XAUCNY   GOLD / CHINESE YUAN
Gold             has sold off as the initial reaction after the FOMC meeting on Sept 26th. However right now is a very good spot for at least a bounce play imho             . I'm sharing the chart of Gold             priced in Yuan. It shows that gold             has sold off all the way down to the LVN             8126, where previous sharp rebounds have happened. Assuming that USD/CNH             has topped, then this is the best chance we've seen since the 1160 drop in gold             last month. It also gives clear edge on when to exit the trade. If XAUCNY breaks current level, then it will probably sell off all the way down to the floor of the next market structure, which corresponds to 1140-1150 if priced in USD.
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