Gold slips as rising Treasury yields bolster dollarGood morning all, running on from my YouTube video update’s you will be aware of what I was looking for on GOLD . Well we visited the supply zone just above and we then got a huge rejection resulting in a daily pin bar candle. This was our signal to enter the trade as you will be aware when following my setup’s. Sometimes it works and sometimes it doesn’t, well this certainly went our way very quickly. Currently 300 pips in profit on our position so now is the time to lock in some profits, at least 1:1 R:R and let the trade play out. As we are still in a bullish trend its wise to lock the pips in the bag. Aiming for the moving average as a TP or that support zone below. Will update again in a few days. GLIYF
Was looking at this chart looks like it might be a good time to sell.
Sell Gold at 1914
TP: 1911 1908
Wow cant believe its been so long since i updated this thread. If you follow my YT channel you’ll see the trades ive taken and currently in.
Good morning all. Hope everyone has had a good trading week. Update on Gold today, we have had all the supposed terrifying USD news this week. But it seems it hasn’t had much affect on the markets. In my opinion this is why we should be trading what we see and stick to our practices, as usual the market does different to what you are expecting fundamentally. We have had great trades from this demand zone before so why cant we again. Onto the Gold trade, and we have hit 1:1 R:R Depending on when and where you entered and the size of your SL. currently 429 pips in profit so time to make the position risk free with the SL to your entry. you can even close some if you so wish to secure some profits. Hope you have a good weekend, will update again next week. GLIYF
Good afternoon all, quick update today on the gold buy trade. Currently 823 pips up in profit and over 1:2 R:R now so make sure you secure profits on this position. Today we have NFP coming up so it could cause some volatility to our position. So if you secure at least 1:1 then you are not giving your pips back to the market. If you want more room for wiggle then move your SL to entry. Will be a fun ride to watch as were in profit already. Hopefully it moves in our desired direction and break the downtrend and supply zone , but it looks like it could possibly drop back, that’s what technical is saying. Have a good weekend all. GLIYF
It got smashed down on Friday, I figured that the sellers would have a crack at it there. Will be interesting to see where it goes this week
Good morning all, little update on the Gold buy trade today. Price is still respecting bullish momentum. Making HH’s and HL’s. Currently we sit 773 pips in profit which is over 1:2 R:R, we did hit 970 pips in profit. but as you can see we tapped into the supply zone above with the moving average, and have since dropped back in price a little. But as long as trend is respected we can continue to hold. We may see price visit the little demand zone created along the way to gather support for the push to break the supply zone . Lock in your profits as always and watch the move play out. Will update again next week GLIYF
Good morning all, looking today at another possible Gold buy setup. It’s the classic double bottom setup, we previously have bought from this weekly demand zone multiple times, so let’s do it again. The most recent trade from here returned 900 pips. Let’s watch what price does over today and possibly tomorrow, hopefully we find support here at this demand zone again so we can jump on a buy for a possible bull run. It’s NFP tomorrow so that could play a big factor depending on what USD decides to do. Keep watch and be ready GLIYF
Good morning all, back today to share the idea of buying gold here at this demand zone . After yesterday’s drama of the USD CPI data release. We can see that the $$ dropped back. The time may finally be up for the strength in DXY , values have dropped each month since June in CPI data. Looking at the DXY chart we have a bearish candle for yesterday, worked out well for our other long trade on GU. Therefore we may see some weakness in the dollar for the short term, so on that basis I will try a long here on GOLD from this demand zone . Trade light no need to over risk here with gold . Ill update again next week, enjoy your weekend all. GLIYF
It ended up continuing the down trend
Good morning all, big news events have happened this week, and we have got NFP later today. But seeing where GOLD has held here at this big demand zone I would like to try a swing trade here. In readiness for the usual bull run in December towards the Xmas holidays. Ideally we should use a smaller position size here for two factors its a swing trade and also the NFP factor later today. Price will either drop back to demand, or it could give us a springboard start in our positioning. Either way I bought on today’s candle open, not too far in profit if you want to follow or wait until after NFP to enter. Will update again next week, have a good weekend all GLIYF
Good morning all ,exactly a week ago today I posted the buy on Gold . This time price went in our desired direction. The previous buy we did was premature and we got stopped out. But thankfully we have returned that trade back and more, with this buy from the demand zone . Currently we are 1200 pips in profit for well over 1:5 R:R return. DXY looks like it could be breaking down and we may see further weakness going forward, especially with the CPI data on a downtrend. Which is great for the current trades we are in. Looking for a pullback here in price to demand or the flipped zone just below before another push north. Keep holding and keep moving SL up into profits to secure. Will update again next week, have a good weekend all GLIYF
Nice, you smashed that one! I might jump in on that pull back, will keep an eye on it!
Having another update today on our Gold trade. Since last week we have seen not much movement in terms of profit. We were 1200 pips in profit last week and we are at the same this week. Although we have peaked at 1580 pips and almost hit our TP1 zone. I still think we could possibly have more to come on this current bullish run, and looks to be making a higher low possibly over the next few days before we break the high again and hit our TP zone. But as always secure your profits and let the trade run risk free. Will update again next week. GLIYF
Good morning all, it’s Friday and the last NFP of the year for December. So today is a double update for both of our running trades, as they will both be affected by the outcome of today’s news release.
- Chart on left is GBPUSD . Currently 1463 pips in profit over 1:5 R:R.
- Chart on right is Gold . Currently 1700 pips in profit over 1:6 R:R.
Both pairs have made new high’s with yesterdays daily candle, and both have hit a small supply zone . Which leads me to believe today could be a big day for our trades. Either we will get a nice continuation or a pullback in price. So make sure if you haven’t already to lock in profits as I always say. I will update again next week, have a good weekend all. GLIYF
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It took a real dive last night. Not sure what caused it…
Gold is entering a monthly supply/resistance area between 1880 - 1920. I would look for short term pull backs as price moves up in to these areas.
Gold Update:Gold is entering a monthly supply/resistance area between 1880 - 1920. I would look for short term pull backs as price moves up in to these areas. Posted yesterday.
Gold has now retraced 2000 pips from 1885 down to the 1865 area with price action confirmation on the hour, 15, 5, 3 min charts. Great place to book profits for swing position, trend traders.
Great place to place sell orders trades for swing, intra-day traders during the London Session.
Live Update. Double Top pattern, Asia session is giving an hourly sell signal at the 1885 order block, price may fall 500 to 1000 pips. Use great money management and follow the trade plan.
Set your stops just outside of the 1885 order zone more or less depending on your trading style and risk management.
