Gold (XAUUSD) Long Term Position For 2021!
Gold has all the right reasons to continue long:
1. The Fundamentals are well supported as the US has just signed off on the Stimulus package and Checks are already being sent to individuals. As we saw with the First Passage of the Stimulus Package we had a very strong Bullish Run on Gold settling for more highs. There is no reason that Gold can't do the same this time around.
2. Gold is continuing a several year long ascending channel which we saw had reached the floor in the beginning of December
3. A bullish Ascending triangle has been created on the 4HR which we can expect a strong move to the upside.
I will be going LONG ON Gold All 2021. I HAVE A Long term position and will be adding to the position buying the DIPS.
Invest Smart!
Please like this idea on subscribe for future ideas. Thanks!
1. The Fundamentals are well supported as the US has just signed off on the Stimulus package and Checks are already being sent to individuals. As we saw with the First Passage of the Stimulus Package we had a very strong Bullish Run on Gold settling for more highs. There is no reason that Gold can't do the same this time around.
2. Gold is continuing a several year long ascending channel which we saw had reached the floor in the beginning of December
3. A bullish Ascending triangle has been created on the 4HR which we can expect a strong move to the upside.
I will be going LONG ON Gold All 2021. I HAVE A Long term position and will be adding to the position buying the DIPS.
Invest Smart!
Please like this idea on subscribe for future ideas. Thanks!
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.