IvanLabrie

Gold: In no man's land (for now)

FX_IDC:XAUUSD   GOLD / US DOLLAR
618 18 21
2 years ago
We have clear signals that the gold             bull run can continue, but there's an interesting area for a short above, to rejoin the long term downtrend with a tight entry.
We will need confirmation for the trade, since, after breaking our previous trade invalidation, the only other safe location for a stop is the monthly level at 1172.99, and that would be really wide.
So, I will wait and post my short entry when it's confirmed.
Cheers,
Ivan.
a year ago
Trade closed: target reached
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
stragaw
2 years ago
good luck, mate ;)
Reply
IvanLabrie PRO stragaw
2 years ago
You took the hedge long?
That one should be in profit now, and ready to close or trail stops (at least break even stop)
Reply
stragaw IvanLabrie
2 years ago
long 1116 tp 1173 open
short tp 913 open too ))
Reply
IvanLabrie PRO stragaw
2 years ago
How, the short not stopped?
That's an interesting situation.
It can rally to 1155, careful.
Reply
Sokow PRO
2 years ago
Hey Ivan,

here is my chart from the EW perspective:
snapshot


Good luck for all of us ;-)
+1 Reply
IvanLabrie PRO Sokow
2 years ago
Great, watching closely. Risk/reward of the short is ridiculously good. Can be the trade of the year once we get it right.
+1 Reply
jangseohee
2 years ago
snapshot
+2 Reply
IvanLabrie PRO
2 years ago
If long with the suggested hedge trade, exit now, or at least close 75%.
If we move over 1155.25, then shorting would be hard to reccomend.
snapshot

Waiting a bit more, but it's already a short here, stop at 1163.28 roughly.
+2 Reply
IvanLabrie PRO
2 years ago
Market sold gold now, stop 1163.60.
Entry: 1152.08
+1 Reply
stragaw IvanLabrie
2 years ago
close long )) added short
Reply
IvanLabrie PRO stragaw
2 years ago
Great!

snapshot
+1 Reply
IvanLabrie PRO
2 years ago
snapshot


Moving stop to 1154.11
+1 Reply
IvanLabrie PRO
2 years ago
Not looking good, I'll wait for a confirmed higher timeframe setup next. Might need a fundamental event to send it back down.
Reply
IvanLabrie PRO IvanLabrie
2 years ago
Risk is small, if you want you can hold it, I'm getting out at break even.
Reply
ForexEasypips
2 years ago
Do u see Gold or sliver retracing down during this Asian session?
Reply
IvanLabrie PRO ForexEasypips
2 years ago
Really hard to say.
We'll need to wait and trade after we see 5 4h bars without new highs.
Reply
IvanLabrie PRO
2 years ago
Interesting, we might have a short here.
Will the monthly downtrend continue now?
It's really hard to say, but for now I'm standing aside.
Reply
IvanLabrie PRO
2 years ago
It's clear to me that gold is resuming the longterm downtrend here.
I'll wait for a retracement in the daily, and 5 days without new highs to short it again.
4h and 1h chart has been giving good signals but the big moves will come after this 15 bar uptrend expires. Aiming for 913.

snapshot

4h view:
snapshot


Once we get 5 days without new highs, we can look for shorts again using a variety of setups. No way to know for now.
+1 Reply
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