Good R/R to long, IMO.
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1287.50 and 1293 longs are closed at 1294.50 earlier on as per my Telegram. Today is month end. Trade safe.
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Not holding my breath for upsize anymore. I think Gold is still in uptrend, but most funds flows to cryptos rather than metal for the PAST 3 MONTHS. Just look at btc, it grows close to 300% as of yesterday while gold unable to launch. Possible scenario.
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Possible scenario here.
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We are trading above monthly pivot now. If D candle today close above 1282 and higher, (above 50%/ above blue box), Bull has a chance to aim $14xx long term.
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Following up and failed to close above.. Guess where it is heading now?
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Yellow Line reached. Now this is interesting. Now, we are at 61.8 area.
But gold may push down 1240s (78.6 area) before it resume upwards. Is either we are up from here, or from 1240. Plan your trading size accordingly.
If u want to long at 1263, SL should be below 1240. This will be medium term trade.
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But gold may push down 1240s (78.6 area) before it resume upwards. Is either we are up from here, or from 1240. Plan your trading size accordingly.
If u want to long at 1263, SL should be below 1240. This will be medium term trade.
s3.amazonaws.com/tra...shots/l/lAa61W4D.png
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Altough is a good R/R to long, but 4H and 1D is very bearish. Caution needed. I am more comfortable to long around 37 area after 4H reversal candle...
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BTC shoots over 15k, no love for Gold....
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