Golden rebound?
TECHNICAL SETUP
Gold is stabilizing after last week's break.
Currently sitting on MA200.
Formed a hammer with follow-through.
TRADING STRATEGY
Buy here.
Target = MA100.
Stop-loss at the low of the hammer.
Reward to Risk >2.
RISK MANAGEMENT
Please do not put more than 1% of capital at risk on any single trade.
Gold is stabilizing after last week's break.
Currently sitting on MA200.
Formed a hammer with follow-through.
TRADING STRATEGY
Buy here.
Target = MA100.
Stop-loss at the low of the hammer.
Reward to Risk >2.
RISK MANAGEMENT
Please do not put more than 1% of capital at risk on any single trade.
Trade active
This trade is still on.Long GLD at 120.30.
Stop = 117.50.
Target = 125.00.
R/R = 2x.
Trade active
Best configuration for this trade is currently taking place:- Gold steady as equities go up
- Gold up gently as equities consolidate
- Gold building a consolidation base
- This trade is still on
Trade active
Trade nearing target at 125.00 on the GLD.Trade active
Look for a close above 1306 for a resumption of the earlier up-trend.Trade closed: target reached
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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.