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Short term trade idea in Gold


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In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

 

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Hi Traders,

 

XAUUSD price action has retraced bellow 38.2% FIB (1321.6$) and near 50.0% FIB (1306.6$) area, we might see buy opportunity near 1301.5 $ area @ 161.8% Fibonacci-extension of the corrective strcutrure.

Gold has losted 52.3$ in the last 12 days with an average of -4.358$ per day since the 25/01/2018 where it was traded @ 1370.4 $,  

The big palyers will be back soon to the market.

 

Never risk more than 1to 3% per trade,

Best Regards

Omar

 

Gold_20180210_17.15.png

 

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  • 4 weeks later...
  • 1 month later...

HI   Gold is still trapped in the ascending triangle pattern, while a break to the upside is more likely from the TA perspective gold is of course susceptible to sudden moves in response to geopolitical events. 

 

If able to clear this long term resistance there is a lot of space to the upside.

 

Spot Gold_20180502_19.19.png

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