Chart Analysis
Strategy
- As it is shown in the chart the price broke the support line in the mid uptrend channel started in the 15th of December 2016
- SMA-200 is downtrend directed the SMA-20 is uptrend directed which means that big capitals are still buying gold but small ones are closing there positions. Normally the Gold rally will keep on but with small correction towards the next support lines
- Next support lines are whether SAM-200 which means around 1252. Or the bottom of the channel around 1244
Strategy
- I'll buy a small amount around 1252 and 1250
- if the price goes down around 1244 and 1242 i'll buy bigger position
- I don't use stop loss for gold and for all precious metals, because i'm using less then 1% of my capital for precious metals.