IvanLabrie
Long

Commodities portfolio: Long gold on a breakout - 50% retracement

FX:XAUUSD   Gold/U.S. Dollar
4 months ago
Similarly to Silver             , Gold             has retraced back to support, in this case, also matching the Brexit session low, but also, the level where the most accumulation took place, before the previous uptrend signal triggered in the 8-day chart.
This is the timeframe 'in control' and it's flashing the lowest possible risk entry to get long Gold             .

Entry is on a breakout above the last session's high with stop under the low, and the target is 1490.09, which happens to coincide with both, the lowest volume price zone since the top in 2011, and, also the 50% retracement of the downtrend that took place ever since, and bottomed this year.
China might 'buy the dip' here so let's follow their lead and take this entry. Risking 1%-2% can yield a nice 9-18% return once we hit the target, so don't miss it.

Good luck,

Ivan Labrie.
4 months ago
Trade closed manually: I don't like the action here I'm getting out and holding CEF longs for now.
4 months ago
Trade active: I'm getting back in, the move down stopped for now. I like Silver breaking back above the Brexit resistance as well.
4 months ago
Trade closed manually: The reaction to the current situation shows lack of interest in metals, I'm closing for a modest 0.22% profit in gold and silver.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803). KHL telegram group: https://t.me/joinchat/AAAAAAqHRWYvrLlfpF0StA
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out