GOLD, yes they can

mario-urlic-forex-gold-19-10

As I pointed yesterday in my gold analysis, the buyers wanted this breakout badly and we can see that they have been determinated enough. They have manage to brake 23.6 fibo and resistance level at 1263/66 today. You can see that I have waited for the right time (ascending triangle at M5) and traded this breakout as well. But, as I wrote yesterday the sellers will be ready somewhere bellow the next resistance at 1277/82 and you can see that they have stoped the buyers at 1271 for now, where I have closed my position near. Quick 50 pips trade, but must say that I have expected a several pips more. Anyway, the buyers could form a support level now at the previous resistance 1236/66, if this will not be a fail break. Bullish momentum was strong, but now the gold is calm and steady at 1269. As the sellers didn’t expect this!? We will see soon what is the next move, can buyers continue to push higher from here, toward 1277/82?

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2 comments

  • hey “SNIPER”
    I entered at 1262 as it took of 100and 200sma support on 1hr at around 1257$ ……I have closed 50% of my position and now rest at BE ……. thanks again for your previous post which helped to boost my confidence to enter this trade…………
    THANKS A TON……

    Liked by 1 person

    • You’re welcome my friend, nice work. 😉

      Like

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