Happy Easter everyone,
On 19th of march we saw a strong bullish engulfing candle which then price recovered towards $550. We then saw a pullback to $450 where we took our first entry. Profits running and stop loss still remains under the 200 MA. Im expecting some resistance at the 50 MA. This is a long term trade where my target is previous highs of this year...
Gold has made some healthy profits for all i reckon over the last few weeks. As you can see on my weekly chart, i would like to see price break the recent weekly high of this year to move towards 2012 weekly high. A break and close above this then 2011 high can be expected. I have multiple positions running on this trade.
We have seen price drop towards the 200 MA which acted as support. I would like to see price head back towards the 3000 price before looking to enter this stock. A break of the previous high with other key factors, i will be looking to enter this trade.