Longer term perspective XAUUSD (GOLD). XAUUSD has broken well established trendline which has been acting as an upper bound for its trading range since Highs in August.
Fundementally Gold should be transitioning to a more Bullish case as fed having been implementing quantitive easing (Printing Money) measures to stimulate the US economy over the past year. The effects of this i.e inflation of the prices of consumer good are starting to take effect now continue to do so in the coming months. Investors often turn to other assets such as Gold to protect their assets against the devaluing of the dollar.
Technically, a good long term Long position would be once a clear breakout has been made by the market on the trendline above and a clear retest of the trendline and continitation of an uptrend is established, we would ride the trend up. ( With apropriatly managed risk).
In the graph above we see a previous breakout of this trendline highlighted in red, but as said above we don't trade the breakout, nor at the return to the trendline but a clear continuation of the breakout which did not happen there. No one can predict the market but using strict rules and strategies we can increase our probability of wins. 🥇
- Adrian
Fundementally Gold should be transitioning to a more Bullish case as fed having been implementing quantitive easing (Printing Money) measures to stimulate the US economy over the past year. The effects of this i.e inflation of the prices of consumer good are starting to take effect now continue to do so in the coming months. Investors often turn to other assets such as Gold to protect their assets against the devaluing of the dollar.
Technically, a good long term Long position would be once a clear breakout has been made by the market on the trendline above and a clear retest of the trendline and continitation of an uptrend is established, we would ride the trend up. ( With apropriatly managed risk).
In the graph above we see a previous breakout of this trendline highlighted in red, but as said above we don't trade the breakout, nor at the return to the trendline but a clear continuation of the breakout which did not happen there. No one can predict the market but using strict rules and strategies we can increase our probability of wins. 🥇
- Adrian
Adrian - GoldSignals.io
