FX:XAUUSD   Gold Spot / U.S. Dollar
407 5 3
Comment: Staying long here

Trade closed: target reached: Long gold position closed at 1180. I have not yet shorted gold because of the strength in the Japanese Yen. As long as there is strength in the Japanese Yen, I will abstain from initiating a short position simply because that typically signifies weakness in the economy/markets which is good for gold.

For a long trade:
Well, its definitely broken now and got stopped out of shorts. Though I wonder if there is much upside left in gold. Only if markets crash with force would I think.
Lanmar GeneraldisastersInc
Its hockey stick rise is pretty incredible. If I had to guess I'd say there is more upside - probably toward the 1400's
Lanmar GeneraldisastersInc
Yeah I agree for the most part. Market weakness is definitely a big plus. However, Yellen whispered negative rates this morning.. So I think the currency play is now established in addition to the equity safe haven. So a drop in equities may no longer be necessary for gold to continue its rise
Nice chart, I like it!
+1 Reply
Lanmar Frank Cowperwood
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