Gold - Catch the Ride Up
Updated
Gold has been going through a corrective consolidation since it's run up to the 2000s which is normal.
We are close to the bottom of the corrective channel, this is a good buying opportunity.
Long position opened, Stops set at the bottom of the corrective channel.
We are close to the bottom of the corrective channel, this is a good buying opportunity.
Long position opened, Stops set at the bottom of the corrective channel.
Note
We hit our strong support and we broke out of the downward hourly trend.Expect this bounce up to continue.
Note
By now if you are following this trade, you have taken profits from hitting the first target.Note
Closing out 80% of the rest of my position here and leaving the remaining 20% in position with a stop at 1753 (for profit).This was a winning trade with great entry point extremely good risk/reward ratio.
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