I think today after the ECB decision gold will start it's final rally to 1306 ( 2015 Jan high) with the weakening dollar. I'm still in a long position so I don't do anything. I just offer a good long opportunity for the ones who are not in position yet.
Gold will soon produce a seriuos decline but before that it will stop out the shorts and pull in the late bulls. Target: 1306 Stop: 1241 (300 EMA)
Trade closed: stop reached
⋅
Though we stopped out, we are printing an hourly key reversal candlestick. If it is going to stay there I'm going to reenter in the next hourly candlestick, because I think the direction is good. I'm still holding my long positions.
Comments
lemezohaib
⋅
iammathawee
⋅
What is the good entry point for long position now?
I'm holding the long positions.
For those who stopped out my advise is to reenter in the next candle after the hourly key reversal
chartwatchers
⋅
WE will come back to 1249
ieducswesps
⋅
I hope we are,because im so stuck with gold,i made a mistake and now im paying for it
ieducswesps
⋅
You think there are any chances to come back down to 1249?
chartwatchers
⋅
Hi.
No way ... Cut the loss and enter a long position in the next 2 hourly candles.
The maximum we can get is 1260-65. But the good news that we will run up to 1307 at least
Read my new post (Gold daily summary and the one before : Advise for trapped traders)