Dare to take the long position entry at these prices?
A nine month trend is still holding for Gold! If you are a risk taker 'like myself', an entry @ 1275 with a stop loss @ 1260 is in play. Targeting half of position @1300 as a first level. A break above 1300, we should ride the wave back to 1340.
Trade active:
Could yesterday's Inverted Hammer close be a positive indicator to my trading position? Still seeing the 1300 mark...
Comment:
Good morning,
We are at the end of a very rough week for the precious metal and I must admit that my entry point was sitting perfect with the setup placed. I wounder if half the long position will be closed by end of day @1300!!?
We are at the end of a very rough week for the precious metal and I must admit that my entry point was sitting perfect with the setup placed. I wounder if half the long position will be closed by end of day @1300!!?
Trade closed: target reached:
Good Monday,
Wow, Gold is on fire and I have been waiting on these moves for over 10 days now. Half of my take profit was reached @1,300 on Friday. I still have open positions from 1,275 and I shall plot another graph in a few to see where this could go...
1/1
Wow, Gold is on fire and I have been waiting on these moves for over 10 days now. Half of my take profit was reached @1,300 on Friday. I still have open positions from 1,275 and I shall plot another graph in a few to see where this could go...
1/1
Gold's Friday close @ the 1285, just at the weekly Fibonacci Retracement level of 38.2%, combined with a triple bottom @ the 1268 level should be clear and confident indicators of a bull week. Moreover, the US-China trade dispute is placing a floor on gold prices...good luck