Here is an update on Gold
In our previous analysis the pair was trading at $1738
We expected the pair to test resistance at $1750
before falling back to the $1730-$1720 range
The pair however reversed at the $1739 mark and fell beyond our $1730-20 range
triggering our Sell Stop which we carefully monitored & hit our TP @ $1710
banking us 100 pips on the pair.
WHAT TO EXPECT:
At the moment gold is trading at $1700
We have bullish harmonic patterns on both 1H & 30M chart (possible reversal)
US10Y has spiked from 1.47 to 1.59 which is why Gold is currently falling
Also DXY is up at 91.9
We expect gold to go back & test resistance @ $1750
But if gold falls beyond $1690 it might test support @ $1680
& try to break below that support & set new lows for the year
OUR POSITIONS:
Buy Stop @: $1720
Buy Stop TP @: $1730
Sell Stop @ $1695
Sell Stop TP @: $1685
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.
In our previous analysis the pair was trading at $1738
We expected the pair to test resistance at $1750
before falling back to the $1730-$1720 range
The pair however reversed at the $1739 mark and fell beyond our $1730-20 range
triggering our Sell Stop which we carefully monitored & hit our TP @ $1710
banking us 100 pips on the pair.
WHAT TO EXPECT:
At the moment gold is trading at $1700
We have bullish harmonic patterns on both 1H & 30M chart (possible reversal)
US10Y has spiked from 1.47 to 1.59 which is why Gold is currently falling
Also DXY is up at 91.9
We expect gold to go back & test resistance @ $1750
But if gold falls beyond $1690 it might test support @ $1680
& try to break below that support & set new lows for the year
OUR POSITIONS:
Buy Stop @: $1720
Buy Stop TP @: $1730
Sell Stop @ $1695
Sell Stop TP @: $1685
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.
