Here is our analysis on XAU/USD
RECAP:
In our previous analysis Gold was trading at $1810
We expected the pair to be bearish & trade back in the $1790-$1780 range
and that's exactly what the pair did.
The pair hit lows of $1783 triggering our Sell Stop at $1800 and hitting TP at $1790
enabling us to bank 200 pips on Gold
WHAT TO EXPECT:
Currently Gold is trading at $1793
Gold is still bullish long term, but short term we expect it to be bearish
We expect gold to touch that $1780-$1760 level before a bullish reversal
US10Y is currently limiting gold's bullish momentum.
If gold manages to break above strong resistance at $1815 we expect it to test next resistance at $1830
OUR POSITIONS:
Currently at $1792
Buy Stop @: $1820
Buy Stop TP @: $1830
Sell Stop @: $1780
Sell Stop TP @: $1770
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
RECAP:
In our previous analysis Gold was trading at $1810
We expected the pair to be bearish & trade back in the $1790-$1780 range
and that's exactly what the pair did.
The pair hit lows of $1783 triggering our Sell Stop at $1800 and hitting TP at $1790
enabling us to bank 200 pips on Gold
WHAT TO EXPECT:
Currently Gold is trading at $1793
Gold is still bullish long term, but short term we expect it to be bearish
We expect gold to touch that $1780-$1760 level before a bullish reversal
US10Y is currently limiting gold's bullish momentum.
If gold manages to break above strong resistance at $1815 we expect it to test next resistance at $1830
OUR POSITIONS:
Currently at $1792
Buy Stop @: $1820
Buy Stop TP @: $1830
Sell Stop @: $1780
Sell Stop TP @: $1770
Link to our previous analysis below
Note: All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
