$Gold may be revving its Engines, or heading for the cliff.

5 giu 2023

GOLD
Buying here is dangerous.
However, gold is expected to consolidate at 1943 price level for the coming hours.

The key level resistance is expected to hold according to macro trends.

I consider this formation to hold some steam to carry gold to at least 1953 mark. If we are lucky, we will see some short consolidation here before it will try to surpase the 1970 mark.
With some good momentum we will see gold climb pass the 1975 strong ceiling and grab the 2000 price level of a few minutes before heading down again.

MY PERSONAL position is:
Entry: 1942
Target 1: 1955
Target 2: 1973

SL: 1939

I wouldn´t bet my money in going pass the 1970 level to be honest.

This is by no means financial advice. Financial Markets are a volatile and unpredictable investment. I dot not carry any responsability for expressing my personal view

5 giu 2023

Trade attivo

As predicted the consolidation happened around the 1943 mark plus or less 5 dollars.
This first take off doesnt seem to be favoured by the gaining dollar. so I will be cautious of it being a faint run. (Fake Run)

5 giu 2023

Trade attivo

Re calibrating my positions:

Seeing that the 1953 mark blasted past 1960. and the current formation, we may see the next peak closer to the 1980s.
For this reason I change my targets

Target 1: 1960.45 (closed)
Target 2: 1978 (active)

SL 1958

the 2000 mark seems pretty close now, but I think it may come just about to grasp it. I wouldn´t use it as a target.

However, I am thinking of a new entry at around the 1960 mark,or 1970 once i closed the previous one.
I will update as follows