Gold Trading

RSI, Momentum and MACD are in unison with the daily chart showing bearish sentiment. It seems to me bears will prevail this week.

AlGauthier posted:

TiffanyK posted:
Hello. I think the gold will go down soon. Tried sell @ 1214 s.l. 1220 tp 1200. Will see how it will work

This was a good decision looking at the downward movement towards 1180 currently. Not a bad profit you made I suppose 😄

Actually the SL hit the trade and there wasn’t any profit, good thing is that the SL was closer. This order was executed before the downward movement. Maybe I should have wait 1 more day 😁

TiffanyK posted:

AlGauthier posted:

TiffanyK posted:
Hello. I think the gold will go down soon. Tried sell @ 1214 s.l. 1220 tp 1200. Will see how it will work

This was a good decision looking at the downward movement towards 1180 currently. Not a bad profit you made I suppose 😄

Actually the SL hit the trade and there wasn’t any profit, good thing is that the SL was closer. This order was executed before the downward movement. Maybe I should have wait 1 more day 😁

Patience is king in such situations but of course it depends on your risk tolerance. Even if you analysed well the market, it may still go against you in reality. Wishing you good luck in your next trades! 😄

Yes this is true. I was waiting for the Gold to move in the opposite direction and this is why my TP was set bigger than the SL. But this is trading – you never know what will happen. Thank you and good luck to all!

'Gold was trading at $1,235.10 per ounce but the fact is that the metals are keeping their ground. The strong performance of dollar also suggests that the underlying reason remains committed.'

Source: Gold News (https://www.funds-money.com/gold-prices-unchanged/)

Gold prices rose $ 4.91 an ounce on Monday to its highest level since March 3, as expectations for gradual rate hikes helped provide a bullish boost to the precious metal. The XAU / USD pair traded as high as $ 1235.45 after the market rose above the $ 1231 level, but some investors took advantage of this opportunity to take profits. As a result, prices fell back to the 1225 / 3.30 area.

Gold prices posted three-week highs on the morning of Wednesday's trading day in North America as investors are increasingly concerned that the Trump Administration is failing to deliver on its pro-growth pledges.
As for the Comex division of the New York Mercantile Exchange, gold traded at $ 1,247.95 per troy ounce, its highest since February 28. Finally, it stood at 1,247.95 USD at 14:55 (CET), advancing around 0.1% or 1.50 USD.

Gold trading pair is one of the most volatile trading instrument in trading industry! I regularly use gold and silver in my live trading! Basically, I have a specific trading strategy that I use for only gold, this strategy is all about custom trading indicators, it provides me 70-75% monthly accuracy! Besides, I use high voltage news events for gold trading!

I think Gold may try to climb to 1270 - 1280 again next week.