the latest news spiked gold for a few days but the market forces do not go on news.
short gold with Eur may be even a better option than with Usd. this latest rally really just made a great sell opportunity. drop to 1127 would be latest support but imo we slice through that to 1117 on the down channel. second target 1100 than 1080. place a stop at the three...
Price is lingering around the current month high and its close to prior month high.
Two days ago there was a nice move to the upside much larger than any move in several days.
Limit order set to breakout of box drawn.
Stop loss and risk determined based low of thrust bar. You can manage the position as it develops in case you don't want to take a full 1 R...
However since 2009 and before you can see that in all major currencies gold has acted as a protection hedge against inflation and depreciation of these currencies. Definetely not a short term trade but one for the long haul and from the charts it is clear, the blow off top has not occurred yet.
Price leaning against downward trendline
Downtrend has been weak. Could be a good point of inflection.
Bullish bias based on higher time frames.
Entry is aggressive on breakout of box drawn - lots of price action above current level. Anticipating clean move up otherwise keep this one on a short leash.
Better setups coming to upside potentially.
0.5% risk...
This is my XAUEUR markup that I'll follow 'til 4.05.19. I react to levels, so I patiently wait to see certain things take place in the market. *DISCLAIMER* THESE ARE JUST MY HUMBLE OPINIONS, NOT TRADING ADVICE.
Hello Traders ,
We have this wonderful SHORT opportunity coming for us today or on monday ,
Price has already closed below Bollinger Middle band with flat BB confirming price trading in channel pattern ,
We are currently looking at retracement after yesterday's bearish move , but since price has closed below some technical price levels and indicators we...
