Trade Idea: Long Gold
Im fairly new to trading but definitely picked this up as a hobby during these uncertain times. I'm not expert but I take this seriously.
Explanation:
- It seems to me as if gold is jumping down towards a support zone. Although there has been a downtrend the past couple months, there has been pullbacks to be taken advantage of! On the 4 hour timeframe it seems like price has broken out of its downtrend flag and I look for it to start shooting back up between 1842-1872! My take profits are a little extreme but I at least see price going to the 1920's and up.
Let me know what you all think!
Explanation:
- It seems to me as if gold is jumping down towards a support zone. Although there has been a downtrend the past couple months, there has been pullbacks to be taken advantage of! On the 4 hour timeframe it seems like price has broken out of its downtrend flag and I look for it to start shooting back up between 1842-1872! My take profits are a little extreme but I at least see price going to the 1920's and up.
Let me know what you all think!
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