This is not an active trade idea, however at somepoint I belive Gold will visit the 200 day MA. With the help of ChatGPT I found that gold on average has touched the 200 day mopving average on average twice per year for the last 50 years. Currently we have not touched it since November 23, the law of probability and time point to that we will be there soon.
Now before everyone tells me this is not possible lets put some context in this possible move. Gold's 200 day MA is currently at 2719 and in a few days it will be at the last major high pivot of 2788 - this was the level that gold was just 6 short months ago. Keep in mind that the dollar has just touched levels it has not seen since March 22, a 6 month back track of price is not that major.
I am long term bullish on Gold and will always be looking to get long in the long term. My current position I am short from 3466 with TP at the small gap fill around 3175.
Now before everyone tells me this is not possible lets put some context in this possible move. Gold's 200 day MA is currently at 2719 and in a few days it will be at the last major high pivot of 2788 - this was the level that gold was just 6 short months ago. Keep in mind that the dollar has just touched levels it has not seen since March 22, a 6 month back track of price is not that major.
I am long term bullish on Gold and will always be looking to get long in the long term. My current position I am short from 3466 with TP at the small gap fill around 3175.
Trade active
Further to this post - the trajectory of the 200 day MA, will take it to around the 3000 mark in the middle of May - this seems a perfect round number target before the next leg up (if the global scene remains uncertain) or it could be a break and leg further down to put Gold in a more prolonged correction to the 18 month Bull run.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.