GOLD RANGE PLAY LONG SETUP
Fundas - With the China US trade talks break down last week, it seems we may be in for a drawn out set of negotiations. I foresee havens catching a bid leading up to any eventual conclusion of talks.
Techs -
I am looking at this as a typical range play. Gold crashed right down into 1300 supply and bounced. I am looking for a retest of that area for buys and a ride back to 1330-40 (middle of the range) with stops below the 1300 handle initially. I will be patient for my setup here, still a bit early to jump in for me, but definitely have it on close watch.
Happy Trading
Techs -
I am looking at this as a typical range play. Gold crashed right down into 1300 supply and bounced. I am looking for a retest of that area for buys and a ride back to 1330-40 (middle of the range) with stops below the 1300 handle initially. I will be patient for my setup here, still a bit early to jump in for me, but definitely have it on close watch.
Happy Trading
Trade active
Started in at 1312.10 as per planTrade closed manually
Sorry guys forgot to update this. Teh trade and adds were closed on Friday around 1320, after the negative reaction at 1325.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.