DanIrvin
Long

XAUUSD (GOLD) PULLBACK THEN LAUNCH!

OANDA:XAUUSD   Gold Spot / U.S. Dollar
HERE IS MY REVISED OUTLOOK ON GOLD FROM A 4 HOUR TIMEFRAME. I ANTICIPATE PRICE TO PULLBACK TO THE ZONE OF 1710 WHICH I SEE AS A KEY LEVEL;THIS LEVEL SHOULD ALSO JUST BE SITTING ON THE 200EMA SO EXPECTING PRICE TO REJECT SHARPLY. WHILST THIS MARKET IS MAKING HIGHER LOWS THIS ALSO SUPPORTS THE ENTRY POINT AND STOP LOSS POINT. ENTERING AT THIS POINT GIVES US A GREAT RISK TO REWARD OF OVER 8 T0 1 WITH A SMALL STOP LOSS ALLOWING US TO LEVERAGE A DECENT SIZED POSITION.

TAKING INTO CONSIDERATION THE CURRENT CIRCUMSTANCES WITH THE US AND CHINA'S TRADE AGREEMENT ITS HARD TO SAY WHAT IMPACT THIS WILL HAVE ON THE PRECIOUS METAL BUT TRADING WITH THE TREND SEEMS REASONABLE AND I CAN SEE THIS REACHING 1800 IN THE NEXT FEW WEEKS. IT WILL BE INTERESTING TO SEE WHAT HAPPENS.

I HAVE NOW LAUNCHED A FREE TELEGRAM CHANNEL FOR MARKET INSIGHT AND TRADES THAT I TAKE. IF YOU WOULD LIKE TO JOIN PLEASE FOLLOW THE LINK: https://t.me/Danirvin

Comments

we will see, gold its quite interesting to follow
Reply
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