XAUUSD - LONG
I am interested in both the short and the long trade however the longer time horizon trends still support long position plays. The case for long positions is based technical analysis that the bull trend is still strong and has not yet been broken but we must bear in mind the recent shift in Feds monetary policy rates.
What it means is that money has become cheap to borrow, inferring that investors are likely to invest in high reward investment and gold is generally a safe guard against turbulent times. In summary investors may reduce their gold holdings triggering a sell off because smart money has already removed their plays from gold and are waiting for better technical entries (Long).
We may find ourselves in a ranging gold market because of the Americas presidential elections so smart money will wait for the results before they go heavy either direction.
Trade Summary
Entry = 2579.59
Target = 2650
Risk:Reward = 2
Plan your trade, Trade the plan!!!
Follow, Boost and let's Grow together.
What it means is that money has become cheap to borrow, inferring that investors are likely to invest in high reward investment and gold is generally a safe guard against turbulent times. In summary investors may reduce their gold holdings triggering a sell off because smart money has already removed their plays from gold and are waiting for better technical entries (Long).
We may find ourselves in a ranging gold market because of the Americas presidential elections so smart money will wait for the results before they go heavy either direction.
Trade Summary
Entry = 2579.59
Target = 2650
Risk:Reward = 2
Plan your trade, Trade the plan!!!
Follow, Boost and let's Grow together.
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