Here is our analysis on XAU/USD
RECAP:
In our previous analysis Gold was trading at $1810
We expected the pair to be bearish & trade back in the $1790-$1780 range
and that's exactly what the pair did.
The pair hit lows of $1783 triggering our Sell Stop at $1800 and hitting TP at $1790
enabling us to bank 200 pips on Gold
WHAT TO EXPECT:
Currently Gold is trading at $1793
Gold is still bullish long term, but short term we expect it to be bearish
We expect gold to touch that $1780-$1760 level before a bullish reversal
US10Y is currently limiting gold's bullish momentum.
If gold manages to break above strong resistance at $1815 we expect it to test next resistance at $1830
OUR POSITIONS:
Currently at $1792
Buy Stop @: $1820
Buy Stop TP @: $1830
Sell Stop @: $1780
Sell Stop TP @: $1770
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP:
In our previous analysis Gold was trading at $1810
We expected the pair to be bearish & trade back in the $1790-$1780 range
and that's exactly what the pair did.
The pair hit lows of $1783 triggering our Sell Stop at $1800 and hitting TP at $1790
enabling us to bank 200 pips on Gold
WHAT TO EXPECT:
Currently Gold is trading at $1793
Gold is still bullish long term, but short term we expect it to be bearish
We expect gold to touch that $1780-$1760 level before a bullish reversal
US10Y is currently limiting gold's bullish momentum.
If gold manages to break above strong resistance at $1815 we expect it to test next resistance at $1830
OUR POSITIONS:
Currently at $1792
Buy Stop @: $1820
Buy Stop TP @: $1830
Sell Stop @: $1780
Sell Stop TP @: $1770
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
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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.
Related publications
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.