GOLD whats next?

Leebax

Active Trader
Aug 16, 2019
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Good morning traders. Its monday, new week begins, lets look at GOLD. Very interesting end to last week. We saw gold make a big move up and push through the short term downtrend we were in. Thus opening the door for more bullish action. The dynamic support from moving averages is now nestled underneath price and we could be testing the broken trend with support for another move upwards. But with it being a safe play from all over the world currently, it could go either way, especially with all the trade war news with china and the US. Patience is needed and risk management as always with gold. i will be bullish for this week, but NFP might say different by the end of the week. Be Careful out there
 
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Leebax

Active Trader
Aug 16, 2019
41
12
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Back to our favourite friend GOLD today. currently price is still being squeezed in this top wedge. for myself i am going to be going short with a small risk position. Chance for a good R:R from here. Price could easily pop up out top and head towards supply at the top, but with such small stops its low risk for a potential good gain. Were still under the downtrend so my bias is still bearish overall. NFP will most likely be a big factor today if you decide to trade. as always traders use proper risk management when trading and have a good weekend.
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DT77

Active Trader
Feb 24, 2019
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The bears will take control I think for the next few weeks and months
 

DT77

Active Trader
Feb 24, 2019
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Hope you all made some good money selling Gold this week :)
 

Leebax

Active Trader
Aug 16, 2019
41
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The week has finished and the weekend is here so its time to study and look at the charts ready fro next week. Looking back at gold that we was looking at earlier in the week we can see we got a 120 pip move up from the support area but then got a rejection just under the moving averages. Its in tricky spot to trade currently so i personally will be waiting for it to show us the next direction in which it will move. If it breaks above i will wait for the retest and go long, opposite if it decides to fall. i think the US china trade wars might play a big part in the movement on gold in the days/weeks to come. Stay safe and risk management as always traders
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Leebax

Active Trader
Aug 16, 2019
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Looking back at gold today traders. Last week i was looking to go long on the daily doji on support which i did. Also this week you can see that price came back down to the support level before another bounce of 200 pips in the last two days. i think there was some trade war relation behind this move possibly, but that seems to be the biggest mover for gold at the moment. But that was an easy 200 pips to take. Hope many of you caught it. ill be looking for the next level break to trade that direction



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Leebax

Active Trader
Aug 16, 2019
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GOLD looks like its actually having its natural correction in price after the huge bull run we had. If you look back at charts you will see annually that we get a bull run in Dec, which will tie in with the current trade war with china, which affects gold alot. The question is where will gold go for demand for that run. Will it settle round this current demand zone or will we drop lower to the next level below first. Defo one to keep an eye on and when you see some support gathering a nice long position should see you well for the Xmas Rally 1574727775239.png
 

georgequayle

Trader
Feb 16, 2019
86
2
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GOLD looks like its actually having its natural correction in price after the huge bull run we had. If you look back at charts you will see annually that we get a bull run in Dec, which will tie in with the current trade war with china, which affects gold alot. The question is where will gold go for demand for that run. Will it settle round this current demand zone or will we drop lower to the next level below first. Defo one to keep an eye on and when you see some support gathering a nice long position should see you well for the Xmas Rally View attachment 14809
the next movement is big
 

sebking1986

Trader
Nov 28, 2019
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With the USD going through a littler period of weakness I think we'll see a bullish move. Be interested to see how it pans out.