It's a make or break moment for the market and you

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Current active position

Asset: XAUUSD ( GOLD )

Sell Stop Entry Price:1338

Take Profit: 1160

Stop Loss:1360(we will reduce the stop loss points once positions will be more favorable)

Risk/Reward: 1:9

Current active position

Asset: XAGUSD ( Silver )

Sell Stop Entry Price:15.000

Take Profit: 14.00

Stop Loss:15.60(we will reduce the stop loss points once positions will be more favorable)

Risk/Reward: 1:2

Last week comments-The yellow metal has also broken it's $1300 psychological resistance and currently trading at 1304$ per what do we suggest? personally having a long term trading position in the portfolio we are not making any change within our existing position however you'll need to understand that the yellow metal could move higher once the market will re-open,so if you want to trade and buy for the short term that's fine but keep in mind our short bias is still very strong towards precious metal sector for the long term
Comment: Trump threat to Mexico for implementing the tariff, U.S China ugly trade war and hint by the U.S government that they could cut interest rate as soon as this summer, all are weighing on the U.S Stock indexes and benefiting the precious metal sector in a profound manner,we believe the yellow metal could easily climb $20-30$ from the level which it's currently trading at but today’s low-range close suggests the bulls are near-term exhausted and need to pause before moving higher. You would need to keep in mind that our current existing position in the yellow metal is long term trading position where we have the ability to move our stop loss higher where it is placed now due to low risk and enormous reward nature of the transaction. On the flip side, we could see a lifetime opportunity for you to enter a short position once the market will digest the news however we won't recommend you to do so at the moment.

Short term-Bullish

Our long term positions are well intact in both gold and silver.

Related Ideas

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out