Hi folks,
I am going to post here my trade ideas and analysis for the next couple of weeks. These are my subjective opinions and one should not place trades solely on these postings. It is a job of every trader to do his own analysis!
So today I am going to start with my daily-weekly gold forecast. Gold has been inching lower in the last weeks due to the strength in USD index. However we are now in an undervalued market by most technical measures (I have bollinger bands and rsi on the chart). At the same time the price has reached the area of previous lows (marked by the blue rectangle). This is a perfect condition for the bullish reversal to materialise, provided that there is no heavy bearish fundamental influence for gold the next week.
My own trade positioning would be: buy at 1185 USD/ounce with SL at 1175 USD/ounce and TP above 1200 USD/ounce.
Here are both screenshot I used for this analysis:
https://charts.mql5.com/5/865/xauusd-w1-armada-markets.png
https://charts.mql5.com/5/865/xauusd-d1-armada-markets.png
I am going to post here my trade ideas and analysis for the next couple of weeks. These are my subjective opinions and one should not place trades solely on these postings. It is a job of every trader to do his own analysis!
So today I am going to start with my daily-weekly gold forecast. Gold has been inching lower in the last weeks due to the strength in USD index. However we are now in an undervalued market by most technical measures (I have bollinger bands and rsi on the chart). At the same time the price has reached the area of previous lows (marked by the blue rectangle). This is a perfect condition for the bullish reversal to materialise, provided that there is no heavy bearish fundamental influence for gold the next week.
My own trade positioning would be: buy at 1185 USD/ounce with SL at 1175 USD/ounce and TP above 1200 USD/ounce.
Here are both screenshot I used for this analysis:
https://charts.mql5.com/5/865/xauusd-w1-armada-markets.png
https://charts.mql5.com/5/865/xauusd-d1-armada-markets.png
