Hey Traders so looking at Gold as we can see it has now pulled back to the trendline and is testing support at $3300 level.
So if bullish now is the time to buy it with a stop loss under support at 3237 or even maybe even 3200.
Also Seasonally Gold normally bottoms in the Summer around July or August.
Imo a wide stop is need to let the market breathe we don't want to be stopped out due to normal daily movement.
If bearish however be very careful this seems to me like strong bull market. I wouldn't think about shorting unless breaks below trendline and below 3200.
Always use Risk Management!
(Just in we are wrong in our analysis most experts recommend never to risk more than 2% of your account equity on any given trade.)
Good Luck & Hope This Helps Your Trading 😃
Clifford
So if bullish now is the time to buy it with a stop loss under support at 3237 or even maybe even 3200.
Also Seasonally Gold normally bottoms in the Summer around July or August.
Imo a wide stop is need to let the market breathe we don't want to be stopped out due to normal daily movement.
If bearish however be very careful this seems to me like strong bull market. I wouldn't think about shorting unless breaks below trendline and below 3200.
Always use Risk Management!
(Just in we are wrong in our analysis most experts recommend never to risk more than 2% of your account equity on any given trade.)
Good Luck & Hope This Helps Your Trading 😃
Clifford
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.