XAU Buy ideal entry point.
Looking at the previous financial crisis (2008- 2009) where XAU corrected by 30%, which then initiated the bull run.
I believe the same situation is likely in this scenario, however with XAU having an 18% correction.
XAU is overall bullish, but this outlook is on the belief the markets with correct. With the coronavirus situation and the volatile stock and currency market, anything may happen, and we may see a bull run before our entries are even hit.
Gain: 21%
Risk: 4%
Risk to Reward: 1 : 5.4
Looking at the previous financial crisis (2008- 2009) where XAU corrected by 30%, which then initiated the bull run.
I believe the same situation is likely in this scenario, however with XAU having an 18% correction.
XAU is overall bullish, but this outlook is on the belief the markets with correct. With the coronavirus situation and the volatile stock and currency market, anything may happen, and we may see a bull run before our entries are even hit.
Gain: 21%
Risk: 4%
Risk to Reward: 1 : 5.4
Comment:
We are still waiting for the price to come to our optimum point. However, due to the worldwide crisis going on right now, especially with the US FED we might not get to our buying point. I may publish a new idea, if the markets change drastically.
Trade closed: target reached