Long on Gold, Showing some strenght,making higher highs and lows

Very good risk reward trade long on Gold. It is making a nice turn from lower lows to higher lows as you can see in this chart.
Target 1295 to 1305
Short stop at 1271. So low risk with high reward!

Komentar:

Awesome, just awesome :) targets are almost in reach, I have put the stop higher

Komentar:

I am almost certain this small H&S with target 1286 will fail. It is hanging to much at the neckline. If it does fail than and will rise above 1292 again, than i am almost certain it will go to at least 1305. If not than maybe

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Sorry wrong one :)

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Amazingly enough it is still satying inside this pattern :) Still looking very good and strong

Komentar:

The last candle is not the greatest, but volume was very low on that one so you could actually ignore it. It seems to have made a bullish flag were the low point bounced of the buying support getting higher according to the blue pattern. My target is around 1305. And i expect it to get there this monday or tuesday. The stock markets indices also seem to be preparing to correct a bit downwards. That pushes gold upwards.

I will probably close my position if it drops below 1285/1284

Komentar:

It almost looked like it would drop out of the pattern. It should reach 1300 within 2 days like i said in my last update