It's possible the gold uptrend has ended, but, we have one last chance to go long here, stop should be below 1297.56. Opportunity is significant on both sides of the trade, so let's give it a shot. We can long with a tight stop at 1297.56, but if we see a new low RgMov low below 757.67 we can instantly flip short, expecting the weekly downtrend signal to pan out. I'd risk a move back above 1340 on the short side, but ideally, I'd enter short on a rally, and not lower. The RgMov trend is up, but a break of this level in the next few days would signal it has shifted down. This would be a big change in gold, since it has been in an uptrend for the whole year.
Good luck,
Ivan Labrie.
Bình luận
⋅
Looking good.
Bình luận
⋅
We're pretty safe now, until FOMC, and until we approach 1335. If we break above it, gold will soar. Hold positions.
Bình luận
⋅
Move stop to entry price.
Bình luận
⋅
Closed half.
Bình luận
⋅
I bought back my half position, risking a drop to my entry only. It's highly likely that we see a rapid rally once we break above 1335. Keep an eye on it!
By Static points Gold should see 1400 this month.
Nothing great for Yellen to bring on table as well this month on FOMC for Investors.
Shorting Gold would be the last thing I personally would do now.
Good luck.
IvanLabrie
⋅
Indeed, I'd rather long here, but I'm open to the short side if technicals provide a solid point, which would happen if Yellen surprises us.
Cheers!
Nothing great for Yellen to bring on table as well this month on FOMC for Investors.
Shorting Gold would be the last thing I personally would do now.
Good luck.