AUG 20
Gold Price and Trend Forecast : Sideway Up.
Resistance 1623.4 1624.5 1625.5 / 1634.5
Support 1616.6 1615.5 1614.5 / 1605.5
From daily gold chart and indicators of slow stochastic, rsi,
Macd, Moving average point that gold is in the trend of sideway up.
Day gold trading : Buy 1605-1610 , exit 1618--1622, stop loss 1600
TRADE STRATEGY – GOLD
Resistance 1623.4 1624.5 1625.5 / 1634.5
Support 1616.6 1615.5 1614.5 / 1605.5
From daily gold chart and indicators of slow stochastic, rsi,
Macd, Moving average point that gold is in the trend of sideway up.
Day gold trading : Buy 1605-1610 , exit 1618--1622, stop loss 1600
TRADE STRATEGY – GOLD
There’s a high possibility of peaking 1623-1627 early this week, with a pullback and then 1640 later. One of the reasons we have been hesitant to take profits at our usual key resistance points is due to the potential for gold to get a breakout and move to higher levels. The last two weeks resulted in us not getting a good trade gain but having to get out a breakeven levels. But that is the reason we’re more hesitant to take profits where we normally would. Again tonight we’ve got the same issue. We could peak at 1623-1627 and begin a pullback into Wednesday and then come back at week’s end. However, if we do go thru that 1623-1627 area, then 1640 would be reached quickly. We’ll put our gold sell at 1639 again tonight on the long from Friday. However, traders who have more than one contract can sell some at 1623 and then some at 1640. Others who follow markets closely
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
