XAU/USD (Gold) in daily perspective has come back to retest 1290 price for the 3rd time since March 2017. I am bullish on this, as long as it doesn't break below 1265$/oz, my target 1310$ will still intact.
Reason :
- Price retest and rejection on fib level 50% on yesterday's FOMC event, rejection area (sign of bear trap).
- Support area of 1267, double bottom formed.
- Uptrend is not over yet!
- Potential to reach next support points :
Entry point Short : CMP or any pullback to 1280 area ; TP 1310 ; SL 1265 area
Risk Reward 1:2.2
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- Price retest and rejection on fib level 50% on yesterday's FOMC event, rejection area (sign of bear trap).
- Support area of 1267, double bottom formed.
- Uptrend is not over yet!
- Potential to reach next support points :
Entry point Short : CMP or any pullback to 1280 area ; TP 1310 ; SL 1265 area
Risk Reward 1:2.2
Always remember to trade with stop-loss, market is crazy & cunning*
Trade active:
Personally entered at 1285 area, currently holding +80pips.
Will gold close above 1300 today? Let's see
Will gold close above 1300 today? Let's see
Trade closed: target reached:
Took profit at 1300 with +150pips banked.
Let's come back again next week!
Let's come back again next week!
Trade active:
1280 support firm. 1310 target still intact !
Trade closed: target reached:
TP hit due to N.Korea tension. Thanks Gold.
Bags secured nicely.
Bags secured nicely.
Trade safe with lots of high impact market news ahead this week.