Gold - Reversal is confirming now. Still not too late to buy

FX:XAUUSD   Gold/U.S. Dollar
398 5 1
Yesterday price action was a bit scary, but it looks like today we get more confirmation signals about the bullish reversal. It is very simple: Daily Slow Stoch to give Buy signal today. 4 Hrs Slow Stoch on Buy now, DMI             likely to give a bullish Tenkan/Kijun cross. Price has to clear the 1295-1300. Then the way is open up to 1320-1325. And who knows, maybe after some pull back it will march further up and makes a break above the Kumo on the 4 Hrs chart.
But don't be so greedy now, as 1335-1340 clearly acts as a strong resistence at the moment.
Alternative trade idea besides keeping outright long is to buy bullish Call Spread. LP 1300 + SP 1330 for May maturity (20 days to expiry). Price to pay for the spread is appr. 9,50 (950 USD / options contract) which is the maximum loss. Maximum profit: 1330 - 1300 - 9,5 = 20,5 USD. Risk reward is abt: 2,15.
2 years ago
2 years ago
sir i want to know that how is published ideas on the live charts.
Kumowizard PRO Rupesh
2 years ago

If I understand you, the question is how we can follow one trade idea on the same chart.
Well for me this has been an issue for some time now. I also asked Tradingview Team to make develope or make it available to refresh all components of the chart within an existing trade idea. This way it would be easier to follow everything. Unfortunately now if I see any new signals on the same instrument, I always have to publish it as a new idea, or on a new chart, referring to the old one at the same time. I will try to push it more, maybe if more users come up with the same request, the sooner we'll have it on this site.

So for now anybody who needs a live update from me on a certain trade idea or on a running position, can ask me to publish it any time. I will do it ASAP, with indicators updated and with new comments in case.
Kumowizard PRO Rupesh
2 years ago
By the way this gold post would really worth an update, as in terms of Ichimoku components it has become even more interesting in last two days. Pxon 4 hrs time frame is consolidating now in the Kumo Cloud. It has an increasing chance to break out on the top side. In that case we can revise up the original px target. Basically we could move up the 1320-1325 initial px tgt to ard 1340, and move the initial stop higher, as the change in Ichimoku setup can bring even bigger bullish px action, so more possible profit on the existing long position.
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