Gold swing trade 03 November
With the US elections on Tuesday we have to be carful on that day as Gold will make some erratic moves pre and post election results.
Trade is based on Fibonacci levels and trend lines both weekly .daily and 4 hour looking for a break on previous support levels .
If Trump wins am thinking this will be good for US dollar , this is based on previous election results last time Trump got in we saw the dollar rise.
Like wise if Harris wins we can expect the USD to fall so gold will rise.
For this entry we are looking for gold to rise and get rejected at 2743.2 area, best for us to wait for break and retest there and then fall to previous support level at 2716/17 so we are targeting 270 pips .
Trade safe on Tuesday watch out for sudden moves and as always don't overleverage.
Trade is based on Fibonacci levels and trend lines both weekly .daily and 4 hour looking for a break on previous support levels .
If Trump wins am thinking this will be good for US dollar , this is based on previous election results last time Trump got in we saw the dollar rise.
Like wise if Harris wins we can expect the USD to fall so gold will rise.
For this entry we are looking for gold to rise and get rejected at 2743.2 area, best for us to wait for break and retest there and then fall to previous support level at 2716/17 so we are targeting 270 pips .
Trade safe on Tuesday watch out for sudden moves and as always don't overleverage.
Note
Ran 110 pips I closed out but looking to reenter at same level againNote
Reentered another 110 pipsNote
third entry 180 pips Note
Fourth entry 110 pips Note
5th entry 420 pips ;-)
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