Riding the gold recovery after being oversold (RSI on weekly chart) for weeks, taking advantage of current USD consolidation and price action confirmation on the weekly and daily charts, and most importantly its fundamentals which supports upside reversal (barring any manipulation from banks), esp its increasing demand on tech sector. Setting up buy stop order few pips below 1215, with TP @1220 and SL near 1210 (-38.2 fib level).
kitco.com/commentaries/2018-08-27/Dollar-Weakness-Continues-To-Support-Gold-Pricing.html
kitco.com/news/2018-08-27/Gold-Sees-Some-Follow-Through-Strength.html
kitco.com/news/2018-08-27/Viruses-Can-Now-Alter-Gold-s-Molecular-Structure.html
DXY (daily):
Daily:
Weekly:
Confidence: B (because of USD risks esp the ones related to trade war)
kitco.com/commentaries/2018-08-27/Dollar-Weakness-Continues-To-Support-Gold-Pricing.html
kitco.com/news/2018-08-27/Gold-Sees-Some-Follow-Through-Strength.html
kitco.com/news/2018-08-27/Viruses-Can-Now-Alter-Gold-s-Molecular-Structure.html
DXY (daily):
Daily:
Weekly:
Confidence: B (because of USD risks esp the ones related to trade war)
Trade closed: stop reached
My SL got hit from recent USD rally but that's ok since it's just very minimal loss, will re-enter again soon :)
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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.