XAU/USD: my analysis until 2020 ends (LONG biased) - UPDATED
hi !
today, we approach the most important side of positional trading. highly important to the ones without decades of active gold trading experience.
as all is pointing to gold moving uP, it is highly likely that also this time it will not happen in straight line.
that means, logic and responsible trader cannot rule out a powerful move down before resumption of the very strong uP trend.
the most crucial levels are on the on chart with lines and their price points on the scale.
with gold beside working with reasonable leverage, the trader needs also loads of patience.
in case the trader is not recognized with proven divine powers, it is highly recommended to avoid gambling with leverage and over leverage.
there is a strong trend in favor of longs, use it in your favor.
at any given moment gold can move 10%-15% to any direction without providing time to prepare for such a move. can, but does not have to.
just remember, gold's destiny is uP more than down from the current junction @ 1900. in plain language, it will move more dollars uP than down from 1900 by the end of 2021 starting from now.
Summary: I am ultra bullish for the time frame of the next 15 months. with target above $2350, and much higher if certain conditions to support further.
questions? - contact me and I will try to help.
I repeat, do not rule out move to $1750 area, see it as lucky chance to buy as much as you can without taking over leverage. you want to leverage big time, than use options, than you know the total risk from the beginning. selling 1650 PUTS and using the income to purchase 2100 CALLS is reasonable bet in my opinion. remember, I can be dead wrong. do not trade before realizing the whole risks involved with trading. just don't do that! - trading controlled by blind greed ends in financial disasters.
good luck !
today, we approach the most important side of positional trading. highly important to the ones without decades of active gold trading experience.
as all is pointing to gold moving uP, it is highly likely that also this time it will not happen in straight line.
that means, logic and responsible trader cannot rule out a powerful move down before resumption of the very strong uP trend.
the most crucial levels are on the on chart with lines and their price points on the scale.
with gold beside working with reasonable leverage, the trader needs also loads of patience.
in case the trader is not recognized with proven divine powers, it is highly recommended to avoid gambling with leverage and over leverage.
there is a strong trend in favor of longs, use it in your favor.
at any given moment gold can move 10%-15% to any direction without providing time to prepare for such a move. can, but does not have to.
just remember, gold's destiny is uP more than down from the current junction @ 1900. in plain language, it will move more dollars uP than down from 1900 by the end of 2021 starting from now.
Summary: I am ultra bullish for the time frame of the next 15 months. with target above $2350, and much higher if certain conditions to support further.
questions? - contact me and I will try to help.
I repeat, do not rule out move to $1750 area, see it as lucky chance to buy as much as you can without taking over leverage. you want to leverage big time, than use options, than you know the total risk from the beginning. selling 1650 PUTS and using the income to purchase 2100 CALLS is reasonable bet in my opinion. remember, I can be dead wrong. do not trade before realizing the whole risks involved with trading. just don't do that! - trading controlled by blind greed ends in financial disasters.
good luck !