Gold is continuing its bull run

On 4H chart gold is bounced off 200 MA, penetrated 100 and 50 MA stacked one on the other. I consider this bullish.
On the daily chart, there is a bullish engulfing.
Previous move down subdivides into 3 waves, therefore, I am long. I will close my silver shorts today and open gold longs at Moscow open.

I will also look into re-entering gold bugs stocks AUY, GORO, NAK and POLY (in separate posts).

Comment:

closed longs expecting a correction. Will try to catch its bottom.

Comment:

I was right but missed the move because of overtrade. Do not overtrade, stick to the plan if it is still valid.