GOLD Bull

[bigbax699]

Good morning all, looking today at another possible Gold buy setup. It's the classic double bottom setup, we previously have bought from this weekly demand zone multiple times, so let's do it again. The most recent trade from here returned 900 pips. Let's watch what price does over today and possibly tomorrow, hopefully we find support here at this demand zone again so we can jump on a buy for a possible bull run. It's NFP tomorrow so that could play a big factor depending on what USD decides to do. Keep watch and be ready GLIYF

 

[bigbax699]

Good morning all, back today to share the idea of buying gold here at this demand zone . After yesterday's drama of the USD CPI data release. We can see that the $$ dropped back. The time may finally be up for the strength in DXY , values have dropped each month since June in CPI data. Looking at the DXY chart we have a bearish candle for yesterday, worked out well for our other long trade on GU. Therefore we may see some weakness in the dollar for the short term, so on that basis I will try a long here on GOLD from this demand zone . Trade light no need to over risk here with gold . Ill update again next week, enjoy your weekend all. GLIYF

 

[JimmyRozza]

Would be nice to see some bullish action on Gold. It's got to run at some point

 

[momo3HC]

Would be nice to see some bullish action on Gold. It's got to run at some point

This week we could see some but all depends from FED I believe.

 

[JimmyRozza]

This week we could see some but all depends from FED I believe.

Indeed! Big week for news

 

[bigbax699]

Good morning all, big news events have happened this week, and we have got NFP later today. But seeing where GOLD has held here at this big demand zone I would like to try a swing trade here. In readiness for the usual bull run in December towards the Xmas holidays. Ideally we should use a smaller position size here for two factors its a swing trade and also the NFP factor later today. Price will either drop back to demand, or it could give us a springboard start in our positioning. Either way I bought on today's candle open, not too far in profit if you want to follow or wait until after NFP to enter. Will update again next week, have a good weekend all GLIYF

 

[bigbax699]

Good morning all ,exactly a week ago today I posted the buy on Gold . This time price went in our desired direction. The previous buy we did was premature and we got stopped out. But thankfully we have returned that trade back and more, with this buy from the demand zone . Currently we are 1200 pips in profit for well over 1:5 R:R return. DXY looks like it could be breaking down and we may see further weakness going forward, especially with the CPI data on a downtrend. Which is great for the current trades we are in. Looking for a pullback here in price to demand or the flipped zone just below before another push north. Keep holding and keep moving SL up into profits to secure. Will update again next week, have a good weekend all GLIYF

 

[sebking1986]

Lovely trade and CPI numbers earlier in the week really helped this along. Superb risk reward mate

 

[Aleko Tabagari]

I am done trading gold for the year I collected some good profits on that impulse

 

[PaulaS14]

I am done trading gold for the year I collected some good profits on that impulse

cool! )