Here is what to expect on Gold:
RECAP:
In our previous analysis Gold was trading at $1760
We expected further movement to the downside to at least $1745
Gold reached lows of $1717 breaking below the descending channel and support/resistance at $1750
We entered buys at $1725 & $1735 (posted on our signal group) which we have now closed at $1750
Banking us 400 pips over 10 positions on the pair in total
WHAT TO EXPECT:
Currently at $1752
Gold is currently bullish
Bullish harmonic pattern from previous analysis has extended to $1717
US10Y has fallen from highs of 1.56 and is currently trading at 1.41
We expect gold to test support/resistance at $1765
If the pair manages to break above this level we expect it to test next resistance at $1795
On the other hand if the pair struggles to break or even reach $1765 we expect it to fall back to the lows of $1717
OUR POSITIONS: (monitor entries)
Currently @: $1752
Buy Stop @: $1770
Buy Stop TP @: $1780
Buy Stop TP 2 @: $1790
Sell Stop @: $1740
Sell Stop TP @: $1730
Keep an eye on DXY & US10Y
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP:
In our previous analysis Gold was trading at $1760
We expected further movement to the downside to at least $1745
Gold reached lows of $1717 breaking below the descending channel and support/resistance at $1750
We entered buys at $1725 & $1735 (posted on our signal group) which we have now closed at $1750
Banking us 400 pips over 10 positions on the pair in total
WHAT TO EXPECT:
Currently at $1752
Gold is currently bullish
Bullish harmonic pattern from previous analysis has extended to $1717
US10Y has fallen from highs of 1.56 and is currently trading at 1.41
We expect gold to test support/resistance at $1765
If the pair manages to break above this level we expect it to test next resistance at $1795
On the other hand if the pair struggles to break or even reach $1765 we expect it to fall back to the lows of $1717
OUR POSITIONS: (monitor entries)
Currently @: $1752
Buy Stop @: $1770
Buy Stop TP @: $1780
Buy Stop TP 2 @: $1790
Sell Stop @: $1740
Sell Stop TP @: $1730
Keep an eye on DXY & US10Y
Link to previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
