Fundamental & Technical Analysis on XAUUSD
Updated
Fundamental: Gold has seen the amount of long positions grow these past two months and be able to sustain that grow in a range from 560K-285K+, Short Positions have been maintaining about the same roughly staying in the range from 80K-66K. Open Interest is leaning bullish with growth this past month but for the past two month we see some ups and downs followed by what looks to be possible consistency looking ahead.
COT report: cot-reports.com/cot-report-simplified/
Technical: On the Daily time frame were getting Price to trade above the EMAs while at the same time the 5 EMA is crossing up the 20 EMA. The Stochastic is pointing toward the sky working towards braking the 50% level, Momentum is also positive
Target/Stop: My target will be around the most Significant high, Stop underneath the lows when my idea becomes invalid
COT report: cot-reports.com/cot-report-simplified/
Technical: On the Daily time frame were getting Price to trade above the EMAs while at the same time the 5 EMA is crossing up the 20 EMA. The Stochastic is pointing toward the sky working towards braking the 50% level, Momentum is also positive
Target/Stop: My target will be around the most Significant high, Stop underneath the lows when my idea becomes invalid
Trade active
I've entered longs, ill exit 3/4 once we reach target then let the rest run until a cross and momentum is negative or COT changesNote
New COT report shows a decrease in long positions being held however the amount of short positions has also decreased making the drop in long positions less significant for now but its something to keep a eye on. Net positions have decreased seeing a -2.27% move, Open Interest has increases over all by about 10K. OI has decreased going both ways so nothing of much significance with that change.I still have Bullish bias on Gold and will stay in my longs, this is a swing trade so patience pays
COT Report: cot-reports.com/cot-report-simplified/
Trade closed manually
I have taken profits on half of my position at the significant high made April 19th, I still have the other half of the position running since there's a good chance we can still see it go higher. I've moved my stop loss to break even just incase it decides to retrace, The signal to exit the runners in profit is a cross over of the EMAs to the downside.Good Job to anybody who took this trade with me, now we just watch the runners run with no worries
Trade closed: target reached
I'm completely out of XAUUSD, my stop loss on runner got hit. Great trade yall
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