After analysing price action, it seems that Gold is moving very choppy to the upside despite the constant surges. It indicates that these surges are a bull trap & liquidity grab, as there is a lot of imbalance & internal LQ still left around $1,860. However, we have to be careful as Gold is close to taking out its ATH at $2,075 hence why we will be leaving our invalidation level at that price. TP1: $1,860. TP2: $1764.
BARE IN MIND, this here will be the FINAL CHANCE to short Gold as a mid term move. A break above $2,075 & Gold will be heading towards our long term target of $2,300 and much further beyond💰
BARE IN MIND, this here will be the FINAL CHANCE to short Gold as a mid term move. A break above $2,075 & Gold will be heading towards our long term target of $2,300 and much further beyond💰
Trade active:
As expected from the first analysis, we saw a beautiful rejection on Gold. We saw a bounce from the upper trendline, followed by a 300 PIP drop📉 I'd like to see a strong break below 1920 in order to comfortably say this market will drop towards $1,860 next. If sellers slow down, you can always look to DCA buys from these prices.
Trade active:
Amazing start to the week on Gold! So far we've seen price reject the upper TL & melt down 450 PIPS so far. Not to mention this could only be the start of the correction, so much more downside to come. Could look to DCA some buy positions, if sellers slow down around mid 1900 region. We are still bullish overall long term.
Trade active:
Gold Sell Position 1: Running 620 PIPS in profit📉
Gold Sell Position 2: Running 388 PIPS in profit📉
£25,000+ in combined profit running within the Gold Fund, for all our investors🤌
Gold Sell Position 2: Running 388 PIPS in profit📉
£25,000+ in combined profit running within the Gold Fund, for all our investors🤌
