imk1983-fX
Long

Gold breakout - retest

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Possible opportunity for relief around 1720-1725 area before a push up to 1790-1830

I will look for value before buying in this rally. Already have positions from sub 1700


This is not trading advice nor a signal service. Trade at your own risk

Comments

Retrace then up...
+1 Reply
imk1983-fX mrr8344
@mrr8344, I think so... It will give sellers hope... And buyers will come in looking for value... World economy isn't getting better.. But keep eye on stock market.. If it crashes big then gold positions may be liquidated to cover losses... As it happened in march
Reply
Great analysis! I think seasonal trends are in favour of your analysis. Gold is generally bullish in June/July, so looking to also buy on a pullback
Reply
imk1983-fX rated1984
@rated1984, thanks! Let's see where it goes and just ride the train. Up or down. Trend is Bullish until the end of the run
Reply
Would wait to see what the next candlestick represents, looks like it’s rejecting current push up. This same area was rejected before and seen a bearish trend occur. Could be a good opportunity to sell as well.
Reply
imk1983-fX tmurf00
@tmurf00, could be.. I am only taking a very small sell position. But buying back around 1720 if it gets there
Reply
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