Good opportunity to buy gold.
Targets? Who knows!
The best approach here is to manage the position with a trailing stop-loss.
First, set the stop-loss at 2,897.
After reaching 3,000, move it higher to 2,994.
Targets? Who knows!
The best approach here is to manage the position with a trailing stop-loss.
First, set the stop-loss at 2,897.
After reaching 3,000, move it higher to 2,994.
Trade active
The price continues to squeeze towards the 3000 level. I expect an upward breakout.
The previous stop was too tight, moving it to 2977 (-0.7% from current price). This gives position some space for consolidation.
Trade closed: target reached
You can close the position here or move the stop-loss higher and give the position a chance to grow further.The exact targets are unknown to me and, in fact, to anyone. It's all just speculation.
Therefore, you can continue holding the position based on the trailing stop-loss.
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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.