Good morning all, little update today. Checking back in on Gold and happy to report our trade is going well. As we can see price has continued in our desired direction. We have peaked at just over 300 pips in profit for over 1:2 R:R so if you followed its time to secure your position, and possibly close off some profits of your original position and let the rest run its course. As until the high to the left is broken we could still see a pullback in price. But naturally we should see a bearish day, but don't be worried it is natural market movement. We may find dynamic support form the moving average for further continuation. So secure the bag and let's keep watch on this one. GLIYF
Farm Yard Forex
Well-known member
- Messages
- 395
- Likes
- 134
Very sharp drop today but I think back down to the 1840ish level and then go again.
Good morning all, happy to report today TP1 zone on GOLD has been hit. So far we have achieved 770+ pips for a 1:6 R:R. Gold has steamed ahead recently showing strong bullish momentum. Currently we sit in the supply zone area where price has previously dropped back from, but it does currently look like its going to be broken. This time I would like price to pullback but not as deep, hopefully to the demand area at 1830 before another push upwards. That way we can add another stacked position to what look's like a continuing bullish trend for GOLD . As always take your profits now and look to re enter, or as I am doing closing half of my position and letting the rest run. GLIYF
Farm Yard Forex
Well-known member
- Messages
- 395
- Likes
- 134
Smashed this trade. Equal highs there to target now. So good when trades come off like this.
trade2bpro
Active member
- Messages
- 195
- Likes
- 4
Is gold price relating to Russia-Ukraine war? Any reference/analysis?
Good morning all. Another update today on our GOLD position. if you follow my setups you'll know I left a runner on Gold and im glad did. Look at the incredible bull run we have seen. Currently our position sits at 2472 Pips in profit and it looks like could well make a new ATH . My idea for closing my runner is if we do manage to make a new all time high then I will close. As then I will expect a pullback in price before more continuation. So then we can look for a possible sell before we look to buy back in at a cheaper price. I have read some big players expect gold to hit $3K/$4k/$5K an ounce in the future for the precious metal, due to its physical insurance nature, especially with the rise in Crypto. This will maintain power for the big boys at the top in that battle. So If you followed keep watching for that ATH and get ready to close for good returns, or do so now if you wish to. Will update again on the next move. GLIYF
Farm Yard Forex
Well-known member
- Messages
- 395
- Likes
- 134
Expecting this pullback to turn around 1950 and then break the ATH
Agreed. Situation in Ukraine looking less intense, but inflation still lurking in the background. I might wait until after the Fed rate announcement before getting long again.
Farm Yard Forex
Well-known member
- Messages
- 395
- Likes
- 134
Not sure it's looking less intense. Shells landing near the Polish border and NATO bases, China being reached out to by Putin. Still going to get worse before it gets better sadly.
OK, I think the prospects for the conflict are not looking quite so bad as a week ago. There are regular negotiations taking place, and Russian forces don't seem to be entering Kiev.