Gold Trade Idea – Monday, February 24th

It is time to dive back into gold, at least from my perspective. After I closed my longs I am looking for my next gold trade. This chart points towards a potential correction and I am happy with my entry above 1,330 in this case. I am not looking for a collapse of gold just yet, but think we could see a correction back down to maybe 1,270. See if this trade fits your profile.

Veeery risky, you got guts mate.

Perhaps it would be better to short (if at all) Gold around 1360 (last October’s highs).
Yet, if you display the MA’s on your MACD indi you’ll see the 26 MA is “flying”.

I chose to add to my long when it broke convicingly the 1330 R (H1 chart) and will wait to see reversal signs on daily chart before i take part of it out

  • check multi-bullish div’s in the weekly chart, it will make you seeking [U]only[/U] long entries

I started my gold short at 1,330, will add to it at 1,345 and 1,360 (plus every other $15 increase).

Bearish engulfing bar for 26/2/14, waiting for a daily candle to close below 1322 to follow.

Good idea, thanks

1314 will be hit Monday, then there is a high chance of it going a bit lower before finding support.

Daily bearish engulfing and H4 Inside bar.

Also inside a channel which the top has been rejected. Bullish momentum has also stalled as the bears are now in control, note the size of the bull candles compared to the bear candles.