GOLD, long entry! – 'LIVE'
Gold is stuck between 1208 and 1212 after FOMC. I decided to try with long now, this is why. You can see the support at 1208 is hold on the way down for now, H1/MA200 is here too, up trendline as well. Resistance at 1212 is holding on the way up and that’s Daily MA100 what is the ‘problem’ for gold in the last two days. Another ‘problem’ for the bulls is Daily MA200 at 1215 as well. This could be the hard batlle and it’s risky trade as I see it. The bulls must react soon! My entry is at 1208.70, SL is placed at 1203, the previous low (fail brake) from yesterday. Risk on my capital in this trade is 1,1%, I didn’t set my target yet. Let’s see can the bulls reach and brake 1212 first!?