GOLD Bull

[Amina El Mehdi]

This actual crypto bull run seems taking powers from gold.

 

[bigbax699]

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

 

[Amina El Mehdi]

Secure some profit and leave it. That`s the best action.

 

[bigbax699]

Been a couple of weeks since we have looked at GOLD . Price still continues to drop in bearish price action with lower highs and lower lows on the daily TF. I think price might come down to this monthly demand zone with trend line and possible reverse from there. Remember always wait for price action to confirm support has been formed as we could drop through to the zone below. There is the small daily demand zone just below but it broke the previous demand so it could signal a move lower. Wait for now, better to get the best entry we can. GLIYF

 

[Amina El Mehdi]

With the latest moves we can reach the entry point very soon.

 

[bigbax699]

Last time on Gold we had just created the small supply zone , which proved to be quite a collective area for sells, as price has pushed down strongly since. You could of actually sold from there and made some good profits but that wasn't on my radar. We currently find price sitting in the monthly demand zone . I'm looking for price to accumulate here and possible buy off the trend line for a push back up to the big down trend line above. The back up scenario is if price was to push through for more continuation to the downside. Wait for the break and retest on that setup. GLIYF

 

[davtrent55]

Thanks, will be watching

 

[ForexWarrior2020]

This is an interesting chart. Ive been following others on here to with their gold analysis. Ill definitely watch how this plays out

 

[Amina El Mehdi]

Let`s see the initial play out.

 

[bigbax699]

Good morning all. The new week has begun, GOLD has reached my favored area of interest for a buy. We can get a fairly tight top loss here on this setup. Price is currently in a monthly demand zone and we have also met the trend line for a multiple confluence entry on this position. As always only use 1% max risk on any position. Because price could quite easily drop further below and confirm a longer bearish movement for which my bias would change to a sell. Fairly easy trade this one with 1:6 R:R. GLIYF