GOLD - SHORT TERM LONG
Updated
Following on from our idea on may 2nd - Gold has fallen further and has now replicated a move lower it did in early 2021.
It has hit 0.707 and is at support.
We could look for a small quick buying opportunity. I say small and quick because beyond that we could be heading lower.
Check it out on the weekly....
It has hit 0.707 and is at support.
We could look for a small quick buying opportunity. I say small and quick because beyond that we could be heading lower.
Check it out on the weekly....
Note
On the daily we see that price has hit a 2 (purple ext) and we have a buying tail.Here we can give it our first attempt...
Note
We should consider ourselves lucky and very satisfied.Taking profits
Note
Yesterday's daily candle is a very significant reversal and one can expect that price will move higher from here. I am leaving some money on the table for this. We have taken some profits and we should not have a losing trade with this so whatever is left on the table will have SL moved to at least break even!
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