Gold Trade Idea In the Long Term
As plotted in the chart. the recent news that Donald Trump is extending the dateline of the trade deals further sees Gold flying to the 1470 Level.
I see this price action as a initial impaulsive reaction to the news. There is still more initial bullishness to go. Therefore, im seeing a buffer to the 1475 zone before looking for sweet shorts.
Do note that today, Trump is at the UK for the NATO conference. Maybe he will spark off some positive comments after the conference.
Therefore, my bias is still bearish on the XAUUSD. With a solid trendline plotted and rather accurate fundamentals. we can continue to look for good short opportunities
Downsides to this trade idea:
Poor NFP results
Bad comments from Trump after NATO conference
Bad comments from China.
That is all from me. Support me by joining my telegram channel. I post daily trade ideas and fundamentals on
T.me/SGXAnalysis
As plotted in the chart. the recent news that Donald Trump is extending the dateline of the trade deals further sees Gold flying to the 1470 Level.
I see this price action as a initial impaulsive reaction to the news. There is still more initial bullishness to go. Therefore, im seeing a buffer to the 1475 zone before looking for sweet shorts.
Do note that today, Trump is at the UK for the NATO conference. Maybe he will spark off some positive comments after the conference.
Therefore, my bias is still bearish on the XAUUSD. With a solid trendline plotted and rather accurate fundamentals. we can continue to look for good short opportunities
Downsides to this trade idea:
Poor NFP results
Bad comments from Trump after NATO conference
Bad comments from China.
That is all from me. Support me by joining my telegram channel. I post daily trade ideas and fundamentals on
T.me/SGXAnalysis
T.me/SGXAnalysis