Razvan

GOLD - Up or Down?

FX:XAUUSD   Gold Spot / U.S. Dollar
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Gold is testing the uptrend's line. Will the price bounce back and head towards 1200 dollars per ounce, or break below and retest 1165 level. I would rather go with a break and a $10 plunge.
4 the moment the trend line held strongly, the price bounced back up.
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Depends on your view on rates.
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Razvan Rob.Reynolds
I don't think a hike will take place this month. Still these scenarios are for short term, 2 - 3 days.
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A short position wouldn't support your view on rates. You could look at Gold over a 1-3 month time horizion with a strict stop/loss to allow it run.
+1 Reply
Razvan Rob.Reynolds
I agree with you view! Thank you, do you have any opinion on shorter period of time?
Reply
Unfortunately after my commission I would make very little over a short period of time for an awful lot of risk. I trade on a macro view over a minimum of 1-3 month time horizon there is a better risk/reward.
+1 Reply
Razvan Rob.Reynolds
Thanks!
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