Author Topic: Gold Trade update  (Read 673 times)

Leebax

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Gold Trade update
« on: February 09, 2021, 12:52:27 PM »
Last time i looked at gold i put out the trading ideas i was looking for. Well the 2nd idea came to fruition. Price hit that bottom support zone and rejected off nicely. So if you was following then you would of entered as expected. currently we are 563 pips in profit. But we are currently in an area of interest where price could possibly fall back. We have the longer term EMa's above price and we have just hit that secondary trend line . If we break above then keep holding. Make sure to move SL into profit to secure some pips. Lets keep watching for now. GLIYF

Caesar

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Re: Gold Trade update
« Reply #1 on: February 09, 2021, 12:55:43 PM »
I keep thinking that I should trade gold but then back out. Maybe its time I took another look, thanks for the post  :D
Hail Caesar.
No, just a bit of rain

PipMeHappy

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Re: Gold Trade update
« Reply #2 on: February 10, 2021, 07:59:04 AM »
Interesting thoughts! Nice work @Leebax !!

For me, I traded a small up-move in Gold in the last few days but I was glad that
I got out quickly taking profit, as it has been choppy since: as per my analysis a few
days ago in the Analyst section here, Gold is at historic highs but entering a potentially
long period of consolidation, so instead of looking at a down-channel I am looking at
a box with no direction.

The nice thing about this is that we can all see different things in a chart: the main thing is
how each of us makes money out of it, or decided to stay well out of it until feeling confident
that there is an opportunity there :)