all the deep analysis is done and behind now.
the active period for analysis is until 11/NOV/2020.
all sums into RED line not getting daily close under it @ 337.50 (SPY price module), the BLUE line is target for impulsive move uP which I expect to start happening early the coming week.
I repeat, it is applicable to the time window ending 11/NOV/2020
analysis done, so here is trading theme
in my opinion we are into buy the dips theme for the coming weeks with 1.34 area as the first target.
in case the theme gathers momentum, we may print above 1.3730 still this year
today, we approach the most important side of positional trading. highly important to the ones without decades of active gold trading experience.
as all is pointing to gold moving uP, it is highly likely that also this time it will not happen in straight line.
that means, logic and responsible trader cannot rule out a powerful move down before resumption of...
all the analysis turned into the trade in the chart.
the wide stop is to ensure that the play goes on and leaving strengthening (=adding longs) in case goes lower the coming few sessions.
I do expect the target to print still this month.
check the trade every 8hrs and adjust size accordingly. if lower than entry add if above entry reduce risk.
- I am neutral with EUR/USD at least until the ECB meeting, that means I am not expecting breakout out of the well established range at least during the coming week.
- the current market conditions allow to trade both sides and all depends on patience to enter at the right prices of the range.
comments? feedback? enlightenment? questions? different...
⁂ BUY zone: $1820-$1900
↳ the rest of the analysis summary, shows at the chart
feel free and welcome to comment and post your own idea and forecast.
Remember: this is a positional trade and I may share opposite trades during the coming weeks. this is my core INVESTMENT approach and less frequent trading orientated.
good luck !