XAUUSD: Weekly trend signal kicked off
Updated
Gold has now triggered a new weekly Timemode trend signal in the weekly timeframe, which implies continuation of the main long term trend that started at the August 2018 bottom.
There's also an active quarterly trend, which aims even higher over time in it. I'm long miners currently, and looking to buy into metal positions as well on dips.
Buying now is an option, but you would need to be ready to add on retracement if it happens. This trend is valid while over 1280, until mid August. By then we should go towards 1371 ish or the signal will be a failure.
There's also an active quarterly trend, which aims even higher over time in it. I'm long miners currently, and looking to buy into metal positions as well on dips.
Buying now is an option, but you would need to be ready to add on retracement if it happens. This trend is valid while over 1280, until mid August. By then we should go towards 1371 ish or the signal will be a failure.
Trade closed manually
This trend might fail, like it did 3 times so far, after explosively breaking over 1300, buyers go into a FOMO frenzy and push it close to the recent tops, but then it fails to sustain the advance. I noticed FOMO among emotional clients of mine lately, right at the very high yesterday...I would exit gold positions if long and wait for it to consolidate or retrace.Note
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