Dare to take the long position entry at these prices?
A nine month trend is still holding for Gold! If you are a risk taker 'like myself', an entry @ 1275 with a stop loss @ 1260 is in play. Targeting half of position @1300 as a first level. A break above 1300, we should ride the wave back to 1340.
Trade active
Could yesterday's Inverted Hammer close be a positive indicator to my trading position? Still seeing the 1300 mark...Note
Good Monday, Gold's Friday close @ the 1285, just at the weekly Fibonacci Retracement level of 38.2%, combined with a triple bottom @ the 1268 level should be clear and confident indicators of a bull week. Moreover, the US-China trade dispute is placing a floor on gold prices...good luck
Note
Good morning,We are at the end of a very rough week for the precious metal and I must admit that my entry point was sitting perfect with the setup placed. I wounder if half the long position will be closed by end of day @1300!!?
Trade closed: target reached
Good Monday,Wow, Gold is on fire and I have been waiting on these moves for over 10 days now. Half of my take profit was reached 1,300 on Friday. I still have open positions from 1,275 and I shall plot another graph in a few to see where this could go...
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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.