Fxprotrader
Long

Gold: Big Up Move Ahead

FX:XAUUSD   Gold / U.S. Dollar
1492 19 54
After a great trade in gold             (see the link in the chart) a better one is coming. Price is moving to the down and will soon reach the lower bond of a long term corrective structure after a big impulsive up move. When price reaches the lower trendline we should watch for a buy setup to complete and go long aiming at least the upper trendline of the pattern. If price break above it, we will be in a trade for months..! But take one step at the time!
I totally agree, specially we all know that feds wont hike rates after bad non-farm payroll and other events . hope to get a good position on this trade . thank u !
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Fxprotrader GoldHunter
Great to know..! Thank you :)
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Always on target. Am looking forward to enter this trade
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Me too :)
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all in sell house sell car sell creadit card all in buy gold master
+1 Reply
All depends on if Feds raises Rates or not on Sept 21. If feds raise interest rates, Dollar will have value short term, Gold will do a pullback because of market sell off in the mining sector. But raising rates will hurt corporate earnings; thus we will see substantial market sell off. This would create a domino effect, hurting the chances of Hillary becoming a president. If feds don't raise rates then we have at least 2 month of Gold bull run, since the next fed meet is in December. I am so confident that the Feds won't raise rates before election. Right now the chances of rate hikes is at 11% and December is now 44%. Next week we might see some side ways action possibly lower around 1308-1303. But after Yellen Speech of no hike, I expect a surge upwards in Gold price, and gains in mining sectors. But again safer to listen to Yellen Speech and then take position accordingly. (My) Fundamental analysis and (your) Technical analysis go hand in hand.
+3 Reply
Fxprotrader itSkushSharma
Great to know mate :) Thanks for your comment :)
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I don't think gold can uptrend 1344-47
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Fxprotrader DangBinh
Can you post your analysis?
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DangBinh Fxprotrader
oh sorry, my opinion mean gold can't higher than 1347
snapshot
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Fxprotrader DangBinh
Ok, thanks for sharing
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and which could be or SL in this setup below 1250 ? thanks !
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We don't a setup yet, so we can't say at the moment..
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where should be stoploss ?
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Fxprotrader j.miertzsch
We don't a setup yet, so we can't say at the moment..
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please what is the stoploss and target ? am sorry, I am still a bit new to forex trading but I really appreciate your work mr fxprotrader but what could be the potential target sir ?
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Fxprotrader social_junkie1992
We can't say for now mate as we don't have a setup completion yet.. If i have one i will update and tell you how to plan this trade..!
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simple and good
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Fxprotrader BernhardAnalytics
Thank you :)
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