Technician
Long

Gold: Oversold and Ready for a Bounce!

FX:XAUUSD   Gold Spot / U.S. Dollar
983 17 10
Update: Trade is Active
Update: Stopped out
Profit(pips)=-200
Accumulated Profit(pips)= +2666
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As price hits 1307.00 support level and the 50-days SMA , I look for a short term bullish bounce, the bearish momentum is really strong but i think gold             is pretty oversold could be heading for some adjustment.
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Still Active Trades:
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)

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1287 buy limit
Reply
Update: Stopped out
Profit(pips)=-200
Accumulated Profit(pips)= +2666
Reply
Danny2005 Technician
mine is still running...do you think it will go up soon?
Reply
The move might extend to 1394.00 and 1390.00 level lets see what happens there
Reply
cerebrus Technician
I assume you mean 1294.00 and 1290.00?
Reply
Danny2005 Technician
thx. lets see. My stop is at 1382.00
Reply
Guyz, nothing is certain, There MUST be losers
Reply
True that
Reply
i am embarrassed by one thing, price on week timeframe go down and i not see strong levels for bounce price
Reply
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