Gold: Oversold and Ready for a Bounce!

FX:XAUUSD   Gold Spot / U.S. Dollar
983 17 10
Update: Trade is Active
Update: Stopped out
Accumulated Profit(pips)= +2666
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.
Still Active Trades:

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 ;)
I teach my experience conclusions in 14 trading strategies. PM me for details and cost.
1287 buy limit
Update: Stopped out
Accumulated Profit(pips)= +2666
Danny2005 Technician
mine is still you think it will go up soon?
The move might extend to 1394.00 and 1390.00 level lets see what happens there
cerebrus Technician
I assume you mean 1294.00 and 1290.00?
Danny2005 Technician
thx. lets see. My stop is at 1382.00
Guyz, nothing is certain, There MUST be losers
True that
i am embarrassed by one thing, price on week timeframe go down and i not see strong levels for bounce price
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