Gold - how to trade - long & short entry
Updated
Because the threatened punitive tariffs against Mexico are off the table, the crisis protection came under massive pressure in the wake of a rising dollar and rising interest rates. Renewed threats against China have now restored the general fear of global economic weakness and helped the price of gold to slightly higher regions. Weak data from the U. S. labor market before Pentecost weekend raised concerns that the U. S. economy could slide into recession.
-Gold price found support trough 50 day moving average (yellow line) and the 38.2 fibonacci support line after going into first correction movement.
-RSI implements further up movement after marking support at 1320 $
-MACD baselines going to cross bullish which implements bullish movement
-Gold price found support trough 50 day moving average (yellow line) and the 38.2 fibonacci support line after going into first correction movement.
-RSI implements further up movement after marking support at 1320 $
-MACD baselines going to cross bullish which implements bullish movement
Trade active
long trade active after breakoutTrade active
still holding gold, next weeks are golden weeks :)Trade closed: target reached
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