i love trading this pair of commodity though gold has very large spreads i know that its returns are very good and that way i know that we all need a better thing or commodiy that cn take as to better possitions like gold .
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i love trading this pair of commodity though gold has very large spreads i know that its returns are very good and that way i know that we all need a better thing or commodiy that cn take as to better possitions like gold .
anmaizing if anyone wants to get rich quick the gold is the way to go if you feal that it is becoming defficut then it is not a must rather just trade the currency because it is much easier than gold.
finnely Gold is in bullish trend at this time gold is 1670-1672 and is strong support is 1675 and next support is 1681, kindly buy the Gold with stoploss at 1666 and take profit at 1676.
Gold just broke through all the same medium resistance level 1674 and then pulse the northern growth continued, about south until you can forget, the market is now bullish metals, building up 1674 opened the way to the local maximum in 1683 which is still and will be my main goal (this level is strong, immediate resistance line), the south did not consider.
For gold is now clearly visible form a triangle, it is from the bottom of it (after curfew) and the formation of the North is a wave, a few hours ago the price was able to overcome the upper zone of fractals (1674 level) and moving alligator schedule looks far more to the north as a way to the upper boundary of the triangle free.
with the gold having gained its streagth then i tell you guys that it is time that that we sold it that way i know that we will be able to make it very well itn to the market making sure that we gain strength.
On the hourly chart, price is above the 12 EMA (red) and 72 EMA (blue) indicates the trend is still up
50 RSI line cross above the 50 area, indicates the trend is still up
Recommendation: BUY
Take profitt: 1691.73
Stop Loss :1664.27
market is gaining strength as per my analysis gold seems to have upward side trend... Resistance 1 - 1681 , Resistance 2 - 1683... if gold went to downward level of 1668 then it will see the downtrend and support level will be 1653 and if it penetrates more then 1625 have strong support....
gold again reached to the resistance level at 1681.10 but may be this time also it is not able to break. but if price is break then we can long this. we can make our entry at 1685.50 but if price close below the 1674.00 then we can short and can hold it to the support at 1663.50
7th Feb - Trade plan
Buy Gold - 1673 , TP - 1685
Buy Silver - 31.70, TP - 32.20
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