CFDTradingo
Long

Gold - Perfect Long Entry

FX:XAUUSD   Gold / U.S. Dollar
Gold             recently made a higher high and then bounced off the resistance turned support. Monday morning if it continues to hold this level and starts making higher lows then I'll be entering long.

Reasons for entry:
There is a piece on Barchart about gold facing near term correction.Institutions have been shorting gold since March.
I am long gold for 4 month now and last week start taking some $$ off table.
KGC,ABX,AUY,GORO,GPL,GSV. Been hill of ride!
I think a mild correction will be healthy for remaining of 1016.
Any ideas?
Thx
mo
Reply
Clean S/R, very nice; I am like minded seeing strong support at 1277 level; however looking further out at this cluster view, I am anticipating a potential pullback to 1252/58 level. Good trading to you!
snapshot
Reply
CFDTradingo smitheric1970
I tend to agree with you. I'm going to take a small position if it holds and then watch to long at the lower end of this pattern.
snapshot
Reply
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out