Good evening all. Markets start again soon so a little update on our Gold buy trade. Currently going well, market structure has formed nicely for the buy to continue. Currently we are 700 pips up on this position. Move SL into some profits to secure the bag. As with Gold you never know and it could quite easily turn on us. But I think TP could very well be reached for us, breaking and closing above the moving average is a nice sign. If we reach TP then close half position, just incase we do get a bigger bull push, weekly demand is in control so we could see good movement upwards. GLIYF
Atilla
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Don't see gold coming off the boil with now the UK sending also sending sniffers to the black sea.
One Type 45 destroyer armed with anti-aircraft missiles and an anti-submarine Type 23 frigate will leave the Royal Navy's carrier task group in the Mediterranean and head through the Bosphorus into the Black Sea, according to the report.
RAF F-35B Lightning stealth jets and Merlin submarine-hunting helicopters will stand ready on the task group's flag ship, the carrier HMS Queen Elizabeth, to support the warships in the Black Sea, the report added.
Show solidarity means to watch and do nothing.
Then there is the China v Taiwan ding dong going on. No need for false enemies and terrorists to justify defence spending anymore. Common enemies are identified to justify defence spending.
Beating war drums always positive for gold imo.
One Type 45 destroyer armed with anti-aircraft missiles and an anti-submarine Type 23 frigate will leave the Royal Navy's carrier task group in the Mediterranean and head through the Bosphorus into the Black Sea, according to the report.
RAF F-35B Lightning stealth jets and Merlin submarine-hunting helicopters will stand ready on the task group's flag ship, the carrier HMS Queen Elizabeth, to support the warships in the Black Sea, the report added.
Show solidarity means to watch and do nothing.
Then there is the China v Taiwan ding dong going on. No need for false enemies and terrorists to justify defence spending anymore. Common enemies are identified to justify defence spending.
Beating war drums always positive for gold imo.
new_trader
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and there is also this...
www.reuters.com
EXCLUSIVE China opens its borders to billions of dollars of gold imports
EXCLUSIVE China opens its borders to billions of dollars of gold imports - sources
China has given domestic and international banks permission to import large amounts of gold into the country, five sources familiar with the matter said, potentially helping to support global gold prices after months of declines.
Good morning all. Checking back in on our Gold buy trade today. Currently 810 pips up on the position. We aren't far away from our projected TP zone. Its looking good for a bull run medium term at least. We have broke above the moving average and creating higher lows and higher highs. I would move your stop loss into profits to secure yourself profits. But don't set a hard TP just yet, as its possible we could move past the TP zone and go higher, so I will keep updating and we will keep moving up the SL into more profits the higher it moves in our desired direction. Enjoy your weekend knowing you've secured a big bag of pips. GLIYF
Good afternoon all, checking back in on GOLD today. Price has been in consolidation for a few days now. I've trapped price in this bear flag which we can see here. I'm thinking the next directional bias is being accumulated currently before we see a breakout. I still think we are heading north so if you're still holding just make sure as always you've secured some pips for profits. Even if we break below and your SL is hit then there is good demand below where we can re enter. Watch for now see where it takes us GLIYF
Good afternoon all, checking back in on the Gold buy position today. Last time out we we're inside the flag looking for the breakout. Well price did just that and we got the expected upside breakout to continue on our buy position. I think we should see our TP projected zone hit soon enough. Current daily candle is wicking out form the bottom and the moving average is starting to turn upwards also. Keep holding for now and remember just to keep moving stop loss up as its possible we may go past our projected TP zone into the supply zones above. GLIYF
new_trader
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Yes, but you called it a bear flag which I thought was incorrect. Maybe it was a typo?
Yes that was a typo of course
Atilla
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Hmm looks like a premature get out. Enjoy the rest of the ride guys.
Good morning all, quick update on the GOLD buy we are in. TP zone 1 has been hit for 1000 pips, price has surpassed the level we projected. As I said previously not to have a physical TP set as we could be moving higher to the higher supply zones or the downtrend above. Directional bias is clearly bullish now so we can continue to hold. Either close half position and let the rest run, or hold full position. If you did close then the next buy in opportunity would be a pullback here to the secondary trend line to reach the trend line . If we break above the downtrend then I can see the top supply zone being hit. I have marked out the areas for you to monitor if you wish to stack or re enter. GLIYF
Good evening all, bit of a late one tonight. Checking back in on the gold buy position we have. Last time i posted on gold was 5 days ago, im not one to brag but look where price found support on the higher low, right to the pip. I love it when that happens. Currently 1200 pips up on this position, and I think we will reach the projected circled area of the bigger downtrend. That's where I think there will be a serious momentum indicator of what gold is doing longer term. Keep holding with me if you didnt close, move that stop loss up some more profits to secure the bag. Will update again in a few days. GLIYF
thanks again
Good morning everyone, new week begins and its great to report GOLD has hit our TP projected zone at the down trend line . We have achieved 1473 pips so far on this gold setup. As said previously this is the point where it will truly tell us the next direction. We could see supply here filled and drop back down. So id advise to close half of your position take the profits and let half run as we surpassed our original TP zone anyway. If we are truly getting a longer term bull run we can keep the rest of our position running. If so we are looking for a break above the trend line and re test to carry on. For now enjoy the profits. GLIYF
Great stuff! I will be getting on the next one!
Good afternoon all, havent updated the gold setup for a while. The trend has been very strong in our desired direction right from the first entry. If you closed half position like advised the rest of your position has been rewarded as we have peaked at over 2000 pips. If you got in on the second level where price moved from you will be 850+ pips in profit. If you stacked on your original position then you will be in heavy profits. Trend looks to be slowing down currently so we may see a pullback in price or some sideways movement before the next impulsive move. Lock in profits as always and keep holding, looking for that top supply zone to be hit. GLIYF
Good evening all, markets open again soon so thought I would go over our gold positions we are in and give some education and visuals as to why I always trade the daily timeframe . I saw last week on social media many people panicking why gold had a bearish day reacting to a USD news event. But in the grand scheme of things we were expecting a pullback of this type somewhere at least. I have had those arrows drawn out on the charts for weeks now, as you can see price literally moved to it by the pip. Just a normal pullback in a strong bullish trend , you could of even entered at that point like I previously gave out if you missed it originally. Remember higher TF technical rule all 1d/1w/1m. These little news events during the week are to take out retail traders messing about on the low time frame's. 1800+ pips if you're still holding. I have a feeling we could be on our way to ATH's. Limited commodity gold is, the power to make what people hold is key, especially with crypto currencies coming into mainstream area's. Have a good trading week all GLIYF
