This buy signal is based on a bullish divergence which tells us about possible trend reversal. MACD supports the upward movement. ADX line falls and we can open long trades. The higher time frame gives bullish signals too. We can place pending orders for buy at 1328.50 level with stop orders at 1319.25 level. The main profit target should be at 1340.00 level. The other part of trade volume can be closed at 1350.00 level.
Your last short idea on gold and also this one (its possible now to move the SL to the buy zone and have no more risk involved) where spot on. Please keep us updated on this shiny precious metal!
Herodot
⋅
Thank you, yours trading looks reliable.
Mr_Berk
⋅
I have the same idea with you, good job as always.
Thanks
DLavrov
⋅
@Mr_Berk, the previous downward movement was strong. Now it's possible to move upward for sometime.
Mr_Berk
⋅
@DLavrov, Yes, you are totally right. Bearish movement had a lot of momentum but now, it looks like a trend reversal also on 1h chart macd level is very close to zero level. If we can pass it, this can cause a good momentum into upward movement.
Let's observe when the market is open, i hope this trade will be beneficial for both of us.
Have a nice day and thanks again for the quick response.