XAU/USD CONTINUATION OF BULL RUN??
The dust has settled from the fed rate decision, amongst the debris, we see gold made a nice move to 2600 (that i took advantage of happily) and also took a massive dump to the 2560s as of now. We can see potential for another bull run in the way the Hourly and 30M price action behaves. Bullish closes against small bearish candles indicate the bulls taking back their power for a potential aim at 2630s now. We have broken the psychological high for gold by smashing 2600.
With the price action showing me bullish momentum, the knowledge that the rate cut caused explosive growth in gold, and the value of the dollar as now hit an all time low (dont quote me, i read it somewhere); it is good indication that the run for gold is still not exhausted.
I think gold made a short run to grab some liquidity only to push higher. I do not think gold will be pushing much lower simply because of the economics of the situation.
Stay aware, stay awake, and dont get trapped into a bad trade. Cut losses quick and let your winners run (within reason of course)
I will be posting ideas all week, I trade Gold and GBP/JPY mostly, if there are any pairs you want to see an analysis on, feel free to let me know in the comments on this idea!
With the price action showing me bullish momentum, the knowledge that the rate cut caused explosive growth in gold, and the value of the dollar as now hit an all time low (dont quote me, i read it somewhere); it is good indication that the run for gold is still not exhausted.
I think gold made a short run to grab some liquidity only to push higher. I do not think gold will be pushing much lower simply because of the economics of the situation.
Stay aware, stay awake, and dont get trapped into a bad trade. Cut losses quick and let your winners run (within reason of course)
I will be posting ideas all week, I trade Gold and GBP/JPY mostly, if there are any pairs you want to see an analysis on, feel free to let me know in the comments on this idea!
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