Very tight stop loss is possible here, we just need a dip to 1321.47 to enter ideally, but you could simply long at market or on a break of Friday's high. Target is viable once we break above the weekly uptrend mode labeled on chart. This could be the top in gold for a long time once we hit it. Risk 0.5-1% on this entry if you take it.
I agree 100%... beause:
Slow Stochastic indicator on the gold monthly chart now for the 3rd month with both signallines above 80 = embedded stochastic = super bullish = we´re going to $1,500 = don't trade intraday but ride this leg up over the next couple of weeks/months = the probability is very high = it will be volatile but the dips will be small & shallow & short-lived = don't take profits too early = you can make around $170 - 200 in the gold market if you just stay long.... !!! This is a rare and extremely bullish constellation...
IvanLabrie
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Let's see how it goes, thanks for stopping by.
Cheers!
MidasTouchConsulting
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you´re welcome.. Top very likely in December 2016 or March 2017 @ $1,500 - 1,530 then multi month correction down to the 200 MA....
IvanLabrie
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Possibly yes. I'd watch the resistance, if it crosses the 1335-1345 zone, it'll be a very easy hold until we hit the target on chart, similar to yours.
MidasTouchConsulting
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yes 1335-1345 is probably the trigger.. the reaction from 1415/1430 down to 1370 might be scary but could last only 2-3 weeks.. after that between 1400 and 1500 it will be volatile but the target will be in sight already ;-).. I am pretty sure we saw the low last Thursday..
Slow Stochastic indicator on the gold monthly chart now for the 3rd month with both signallines above 80 = embedded stochastic = super bullish = we´re going to $1,500 = don't trade intraday but ride this leg up over the next couple of weeks/months = the probability is very high = it will be volatile but the dips will be small & shallow & short-lived = don't take profits too early = you can make around $170 - 200 in the gold market if you just stay long.... !!! This is a rare and extremely bullish constellation...