Gold Poised to Rally
Updated
Since GOLD's double top, It has completed a decline of 90 points and broken the downward trend with a large Green Candle.
I expect this pair to Rally toward 1275. It may have more room yet after that, but 1275 is the first Target.
I expect this pair to Rally toward 1275. It may have more room yet after that, but 1275 is the first Target.
Trade closed: target reached
This trade performed perfectly.Gold touched 1274.10, which is about as close to our target as we can get. Now, it shows signs of retrace, as it begins to form lower lows on the other time frames.
Close this trade now at 1268.50, if you haven't already.
This is a profit of $40 an ounce, or $4,000 per contract.
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