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IvanLabrie
Jul 11, 2017 11:25 PM

XAUUSD: Could return to 1250 at least Long

FX:XAUUSD1D
Gold/U.S. DollarFXCM

Description

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I think Gold's a long here again. Tight stop, be ready to add if we hold for two more days, and march higher.
Best of luck,

Ivan Labrie.

Comment

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Strong action in XAUUSD
We continue to hold our longs.

Comment

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Looking good.

Trade closed manually

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Closed here with 1.62R:



Also closed silver. Will reenter in a few days if valid.

Trade active

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Reentered gold at 1263.28.
I think gold bottomed for a good while, and we might see a monthly scale rally.
There's a chance to catch up to BTC even.

Trade closed manually

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Sold again at 1291.7

Will rebuy dips.

Comment

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I'm in GFI, a promising gold miner, also have physical positions -25% of capital from 1220-

Looks like XAUUSD can break out and surge from here, odds are pretty big, considering all factors, and how it is accumulated.

Comment

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Broke out, this is huge...potentially.

Comment

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It was, and it is, huge...



We might consolidate here for 9-10 days.

Buying on dips.

Comment

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Ready to rally again, after a 9 day consolidation -which we anticipated correctly-.
Oversold readings in the daily are good here. Buy into strength.

Comment

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Trend AnalysisChart PatternsBeyond Technical AnalysisXAUUSDGoldtimeatmodergmovkeyhiddenlevels
Comments
nyaqoob75
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If we hold this level? Is there a way you can create a short video to explain how you use the rgexp and your process. Thanks
agile
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What's your take on silver?
IvanLabrie
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@agile,


It could be a bottom here but risk/reward is far worse than in gold.
agile
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@IvanLabrie, thanks, I completely agree..
JRFreeze
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What's your target for this new rally??
IvanLabrie
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@RJHumphries, As close as possible to $1310, stops under $1291.
IvanLabrie
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@RJHumphries, 1500-1800, longer term. We hit the 1st weekly target, almost at $1360.
JRFreeze
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@IvanLabrie, thanks. I'm gonna watch this one closely. We're at 1314 at the moment. The .618 of the last move comes in at 1300. I figure we would very probably bounce of that level... Watching and waiting and using that finite resource... patience!

JRFreeze
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but then of course we could fib the fib!! which would indicate we have hit the bottom...
IvanLabrie
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@RJHumphries, I don't use fibonacci at all, can be used in too many different ways in too many different timeframes, if it can't give the exact same signal to any observer it is useless as a trading tool.
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