Closing both sets of Buys with huge Profits

24 de mar. de 2020

I closed both sets of Buys with huge Profits as Gold printed aggressive Bullish Gap towards my Target which I was waiting for. Gold has finally entered the #1,570.80 - #1,590.80 Zone which has seasonally been the strongest Selling accumulation point since #2014. Daily chart is naturally stabilized as I shift my focus on Weekly and Monthly chart, both of which are calling for a Short-term Bearish reversal. The Fed 700$ Billion loan rate climate is the main driver behind my decision to start Selling Gold and should be Sold immediately. There is always an outside factor that drives the price to the Resistance seasonally (reversal on Stocks) but all are Sold there. It is possible to have a 1 month period trading within #1,470.80.80 - #1,520.70 before the price breaks upwards though based on the #2018/2019 cycle. I am expecting #1,480.70 on Medium term. New Bearish outlook on Gold will come as no Technical surprise since other assets are trading favorably for Gold fall. Keep in mind that my approach is swing trading (Long term positions) within quarterly cycles and my goal is identifying the correct trend for a longer period of time, even if it lags to a small extent. Anything outside this range is led by macroeconomic forces that are difficult to handle with such uncertainty. Congrat's once more for Traders who had patience to follow my Buy calls and hold their Buys for more than 100$ difference, now they comfortably can enjoy the Profits!