forexTrdr

Buy XAUUSD gold as long as support from October holds

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
Higher risk trade- looking for support line from October to hold after a series of bounces from 21st of Jan as we continue to see negative stories around US govt shutdown (Washington Post last night with talk of closure until March/April) and further negative global growth data- European PMI data this morning again coming in below expectations. From that 21st of Jan bounce we have seen a series of higher lows and 3 consecutive failed tests to break.

Should Gold fail to hold above this support line and falter to 1276 area then we will look to short into 1265 (Fibonacci support from 3rd Jan high)
Trade closed: target reached: Trade target reached and our trend continued. Another win.

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