Gold appears to be approaching a key zone of interest, but this time I am long and looking for a breakout. As shown in the charts we can see that gold is heading right for a trendline resistance + golden pocket and it is starting to top out on the oscillators. This tends to be a banger recipe for a rejection but I think this time around could be different. This time could be different if the dollar manages to stay below it local high of $9.28. I can see that the dollar will likely retrace back to around $106.27-42. I plan to hold onto my longs from $1,750 until at least the GP + Trendline. I plan to watch and observe reaction at this area and set a stop in the money. If it breaks out, great, if it gets rejected, sounds good, I'll have my stops set in profit.
With my target on the dollar, I think gold will likely reach $1,788 minimum, if not breakout. Lets get it.
Sidenote, I use 20x leverage trading Gold. This is a good way to amp your trading profits in a slower moving market such as metals. Please use proper risk management when using leverage.
With my target on the dollar, I think gold will likely reach $1,788 minimum, if not breakout. Lets get it.
Sidenote, I use 20x leverage trading Gold. This is a good way to amp your trading profits in a slower moving market such as metals. Please use proper risk management when using leverage.
Nota
I have added to position. DXY with a massive bearish divergence. Stop loss is around $1,715
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.