So the pet rocks have finally broke out after 2 months of consolidation. 4:1 risk/reward trade from here. Long with stops, ride it. Seeing pretty much the same picture for silver: Also for XAUEUR, but a much much clearer chart:
Long term investments - 2019: This is a first post on long term investment for 2019. Others will follow. Every serious investor establishes a solid money management with a balanced risk factor. Investing 100% of your savings in forex or crypto currency is like make a blind all in at poker. So a key factor is to choose which asset allocation suites better for you...
4h chart suggests upside momentum next week imo. Broke market structure + closed above the 50 EMA. It was unable to create a LL after the low at $1453. Besides that, USDX (DXY) has swept a daily high with a violent rejection. This tells me that price wants to go reverse (short term)
sell at current price if price breaks to the upside, sell at correction in lower time frame.
Analysis team placed long on XAUUSD (GOLD) @1456 with 2 intra day targets on 26th November, 2019: TP1 @1459 TP2 @1462
A good time to update the Gold chart ahead of FED/ECB combo. Let's start by reviewing the macro and understanding how we got to where we are now. The entire Macro move from 1205 begun with this breakout which we traded live last year: This breakout was the earliest warning sign of the change in chapters for the economic cycle, it was early hints for those...
As markets continue to see headlines about delayed negotiations for the China and U.S. tariffs, gold continues to be stuck in what seems to be a longer term daily bull flag-- declining channel-- making well enough defined lower-highs and lower-lows. My downside target this week for gold is 1448, where I expected gold to react off of the previous resistance now...
See related ideas from yesterday,
Gold / EUR pair has been consolidating and trading inside a falling wedge channel for several days. This falling wedge pattern usually is a bullish pattern so I expect a breakout soon.
Analysis team placed short on XAUUSD @1468 with the intra day target @1465 on 19th November, 2019:
Long GOLD Above-1467.30$ Stoploss-1455$ Target 1-1474$ Target 2-1490$
Analysis team placed long on XAUUSD (GOLD) @1490.90 with 2 intra day targets on 23rd October, 2019: TP1 @1497.31 TP2 @1503.93
Analysis team placed long on XAUUSD @1482.90 with 2 intra day targets on 2nd October, 2019: TP1 @1489.64 TP2 @1505.42