My prediction this w...from freewilly

17 Jan 2020, 13:27 · Views 2,999

My prediction this week turns out to be the other way around. Despite the trade optimism and the risk-on environment, #gold# #XAU/USD# still trade higher and higher. Right now upside is capped at 1560 and traders are cautious to breach this level. On the downside, 1548 seems to offer strong support. I need to cut and reverse my position if gold managed to break through 1560. #TradeComment#

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freewilly

47 Posted · 375 Followers

I’m a true swing trader and like to sit and watch my trade runs. I trade since 2003.

XAU/USD

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As expected, Trump delivered a tone to avoid physical war. However, looks like US will sanctions on Iran. Tension is still high at the moment although the worst might not happen. Pay attention to the development of the geopolitical.#MiddleEastTensions# #Todayanalysis# #XAU/USD#

freewilly

#TradeComment# #gold# #XAU/USD# As expected traded lower yesterday. 1546 support was breached and this morning was seen at 1541. Sell gold when it is strengthened. See my other post about how to trade Gold this week.

freewilly

#ChinaUSTariffDeal# The trade deal sign is one step for a better trade activity. However, it is still a long way to go. Two economy giants will always fight for supremacy. This is always the case when there are 2 strong dominant power in play. I wish the next phase of the trade deal will also give traders the assurance and reduce uncertainty. #TradeComment# After all, we trade better in more certain market rather than uncertainty. :)#US-ChinaTariffs#

freewilly

Last night we saw #gold# #XAU/USD# pulled back from highs. Personally, I'm still bullish on Gold. Nevertheless, always trade with caution and pay attention to the geopolitical and economic development. If you need to cut loss, do it.#Todayanalysis#

freewilly

#TradeComment# Tonight's Non Farm Payroll (NFP) definitely will set course to #gold# #XAU/USD# trading direction. Right now, Gold is trading between the range of 1545-1552 which we seen these last 2 days. Few ways to trade the NFP tonight, if you have no idea where the direction will go. 1. Trade the Break-Out You can put Buy-Stop at 1556 and TP at 1560. Coincidentally, this is the level where a lot of sellers lined-up and buyers have been trying several times to break this level. Or, you can put Sell-Stop at 1543 and TP at 1540. Gold seller has been trying to break the level of 1545 for this few days and it takes a strong driving factor to break this level tonight, which is NFP. 2. Wait and See You may want to wait for 15 or 30 minutes after the NFP release before trying to open any trade. I wish you all a good trade tonight.

freewilly