XAUUSD Long Trade following Ban new on the Dollar. Long

Gold/U.S. DollarFXCM

Description

⋅ Aug 3, 2016 2:52 PM

Well, Following the midterm up trend, and following bad news on the US Dollar. we still bullish on gold. this is the second trade on gold for today

Please leave a comment and open the discussion.

Comment

⋅ Aug 4, 2016 1:57 PM

Move stop loss under 1353$ for almost risk free trade

Comment

⋅ Aug 4, 2016 2:28 PM

Close 50% of positions, @ $10.5 USD Profit

Comment

⋅ Aug 5, 2016 10:18 AM

Move stop for 2nd half to 1356, just to eliminate risk

Trade closed: stop reached

⋅ Aug 5, 2016 12:34 PM

No loses However on that trade only 10.5 USD gain on the 1st half

Comments

kniedoborski

⋅ Aug 3, 2016 7:31 PM

This trade I can relate too, but why not wait for the break out?

SerenaAadms

⋅ Aug 3, 2016 7:54 PM

Thanks for the comment.
Agree, a break out will be a good idea, however a correction end is possible to predict in strong trend (the case with XAUUSD), specially that entry is just few pips above a combination of very strong support level and fibonacchies (see attached chart).

Sinistro

⋅ Aug 3, 2016 4:17 PM

I got in that trade TP 1406.69

SerenaAadms

⋅ Aug 3, 2016 4:24 PM

Well, this is the last trade in the Gold Long Party, unless we break 1367 up. if gold take's our stop, that will mean officials a start of potential down trend or a deep choppy period where we should avoid gold at all.
Lets see.

Sinistro

⋅ Aug 3, 2016 9:37 PM

I guess I'm counting on a weak dollar at least until the elections (November), we'll see. I wouldn't be surprised to see gold go as far as 1533.54

Kani1987Attila

⋅ Aug 3, 2016 2:56 PM

tank you!!!

SerenaAadms

⋅ Aug 3, 2016 2:58 PM

Thank you for your comment.