GauravSaini
Long

Gold long trade -XAU USDcmp 1326.4 -plz read

FX:XAUUSD   Gold Spot / U.S. Dollar
Initiating long in gold             cmp is approx 1326.4 ---the targets will be above 10334 and higher , plz             read the prev post/idea on xau/usd             and the points mentioned below

the trade setup is based on higher ti,eframe charts and thus is positional trade
it carries substantial risk
in this trade we are entering early based on certain triggers
The earlier mentioned resistances of 1334 -1340 are still present on upside ,
book profit at those levels
a good stoploss will be below 1318 which means high risk
a decent stoploss will be below 1322
the prices have been volatile recently and thus stoplosses are not ezee to define ---so
ONLY trade with small quantity -----do your risk ananysis properly before initiating trade ....look at risk not profit potential before entering trade , the long trade can also be initiated in other gold             contracts the charts are favorable-- personally i will be using a pyramid type setup to enter further positions which may not be suitable for u
the xud/usd 1354 long trade has done really well---traders can book out or continue to hold positions with suitable trailing stoploss ---hope traders who initiated longs are enjoying, this week two of the three diff trades worked really well.....the currency trade in eur/usd is in loss but position was much small in that one and gains from xud trade and index trade are good.......happy trading to all
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the xud contract is now trading at 1338.......a part booking for longs is advised....
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Those following this thread -the xud contract has taken support at 1307 as mentioned in comment on march 15 and now trading near 1329 at time of writing , It made high of 1336 (after taking support at 1307) i am holding longs in this contract approx cost 1322 and added at 1312 .......this contract has further upside potential ......though resistances are present at 1341-1343.7 zone than 1350...........will be trailing with stoploss of approx 1318



fresh positions are not advised for the reason that a decent stoploss is not ezee to find.
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prices are now below 1318 ----traders should close positions as price not moving in favor next support is coming at 1307 levels
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thank you Gaurav
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in the mcx exchange gold april contract is 30377 rs
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