Gold looks bull both in short term and longer term. However, will Gold price break out 1360 in early next week? Don't forget next Fri." NFP". 1) 1350-1355 will be tested again, if 1360 blocked, short for rally and hold till"NFP". 2) 1329 is an important support, for longer term plan, go long if it holds.
That's the strategy only. Trading depends on the technique signal to match up with the strategy.
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I've shorted at 1352.8 in yesterday. TG1:1339 TG2:1330
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My first short at 1352.8 has reached SL at 1356. Then i continued to short at 1360.17, TG1 1355.2, if 1355 supported, pocketed some part of profits and go long for hedging for the rest position. I can't bet on whether BOE will cut interest rates or not, but the majority of the market think it will act, since Gold price has broken out 1360 today. If BOE won't act, 1360 will be the top in a few days.
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TG1 has reached! I've closed the short position from 1363-1366. Now it's approching TG2 1330, which is my estimated buying entry. But should be careful that the day close and week close look very bearish. If 1330 holded,we can expected a bounce to 1346 in next week. ETF kept buying 7.13Tons in Fri.
do you use fundamental analysis to proceed your trade?
faylee
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yes, i would integrate fundamental analysis
alistanbuldan
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H, Fay Lee, do you still wait for xau? What's your opinion about it? Thank you ..
Victor.Y.F
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Thank you Faylee ! It's a strong buy there be careful with A50 PBOC could purchase bunds soon. A tail risk is gonna happen for helping weighted JPY reach it's purchase power and will reach inflation 2% target after that.
chu168
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great call
alistanbuldan
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hi, this trade is still active ? I stopped what do you think about it ? when we in again for long position faylee ?
faylee
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yeah, i am about to update my plan, already reached SL, But i shorted at $1360.17 TG1 at 1355.2