Short term outlook and trade ideas for GOLD
Updated
As stated in my previous ideas: shorting this is riskier than going long.
This is just a TA with harmonic patterns, my previous trade, short term was based on the previous figure.
Remember this is short term, play responsibly and always managing your risk. Place stops if you have no time for babysitting trades.
Fundamentals still the same. New Fed chairman seems to fail at having a clue about the fiscal mismanagement by the government. They have to keep playing the role and Dudley some days ago stated there will be more QE if they see markets falling.
Keep an eye on Monetary Base development, that's the ultimate truth.
Cheers and good luck.
This is just a TA with harmonic patterns, my previous trade, short term was based on the previous figure.
Remember this is short term, play responsibly and always managing your risk. Place stops if you have no time for babysitting trades.
Fundamentals still the same. New Fed chairman seems to fail at having a clue about the fiscal mismanagement by the government. They have to keep playing the role and Dudley some days ago stated there will be more QE if they see markets falling.
Keep an eye on Monetary Base development, that's the ultimate truth.
Cheers and good luck.
Note
Friday's daily candle (bullish engulfing) could be confirming the uptrend for our first target. Make sure to move your stoplosses to BE once it's there for the second target.Trade closed: target reached
First target reached, second target still in play. Stops moved to BE.Note
Moved my stops for the second order to last tg. This will warranty gains, and potential 2nd target reach.Trade closed: target reached
Second target reached. Excellent. Idea closed.
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