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tntsunrise
6. Aug. 2020 13:38

Gold Monthy Target  Long

GoldOANDA

Beschreibung

Gold aim 2300 and 2461

Month Chart gold already break all time high
it's difficult to look left and find resistance area

However, we can use the AB=CD tool
and reverse Fib Extention to measure gold's next
target
AB=CD @ 2300
Reverse Fib 1.618 @ 2461

So we can still hold our Gold long position
since my last Trading Idea

Some Tips:
1. In bullish trending market, do not lose your position.
try to hold some position once it reachs RR ratio 2:1
2. Do not trade oversize, measure your risk amount before your enter
3. use the Three Method that I have been teaching for the last 7 years:
A. Structure break-out + pull back
B. Inside Bar (Momentum Trading)
C. Pin bar+ 8 EMA/ 89 EMA
Kommentare
div4u
Nice analysis.
Tomorrow very much volatility possible.
BusinessBeyond
Should we be at all concerned about NFP tomorrow affecting price negatively?
amin2424
Nice thought, but its just an idea, lets see how its play
without_worries
3-month chart indicates resistance could be found around $2500 to $2600

Ukendt
@without_worries, Thanks for pointing that out mate :)
without_worries
@Ukendt, No worries - I'm very skeptical of hype based rallies with everyone calling for the moon.
Kkjamaal
It’s not difficult to look left it’s impossible. Gold has never been this high
Ukendt
Keep it up Jack, greetings from Germany :)
thecryer
nice one. check that one. resistance is around 1.618 Fibo. have a nice day.

thecryer
@thecryer, Target should be 2445 according to fibo.
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