We will rebuy our #XAUUSD position soon, weekly chart indicates a new trend signal is now active, looking to add on dips from here onwards, nice upside potential, for both weekly and quarterly charts. The Q1 close confirmed a quarterly explosion pattern trend signal, which implies we may go towards really lofty targets by Q1 2021 or sooner. Target #1 is visible here, targets #2 and #3 have lower odds but also possible and sit at 2082.53 and 2692.72 respectively.
I'm long $GOLD (Barrick) as well, holding it for as long as possible, most likely until we anticipate some kind of major retrace...same is true for $XAUUSD, since the trend may last for a year, I will try to reduce drawdowns from simply holding a long open from here until Q1 2021, shorting when necessary or adding longs on short term entries as well but without closing our base position.
Best of luck,
Ivan Labrie.
I'm long $GOLD (Barrick) as well, holding it for as long as possible, most likely until we anticipate some kind of major retrace...same is true for $XAUUSD, since the trend may last for a year, I will try to reduce drawdowns from simply holding a long open from here until Q1 2021, shorting when necessary or adding longs on short term entries as well but without closing our base position.
Best of luck,
Ivan Labrie.
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Gold is now washed out enough to form a bottom, it also got ridiculously close to the quarterly trend stop loss, so risk/reward was optimal to buy back into long gold exposure today. I entered into longs lower, around 1266. Holding for the time being.
Gold is now washed out enough to form a bottom, it also got ridiculously close to the quarterly trend stop loss, so risk/reward was optimal to buy back into long gold exposure today. I entered into longs lower, around 1266. Holding for the time being.
