According to the last week COT report, the dealers are highly short and 90% managed funds are long for gold. And also, XAU-USD is at monthly support level. Breaks above the monthly pivot will confirm the bull move and gold is heading to 1390.00 area this year.
Comment
⋅
This view is valid only if the price breaks above 1290 handle.
Trade active
⋅
Bought Gold at 1270.00 with SL just below 1265.00.
Trade active
⋅
I am going to close HALF of my positions at 1280.00, so, I don't have to worry about the rest even if I am stopped out.
Comment
⋅
Half of my position is closed at 1280,00,
Trade closed: stop reached
⋅
I'm stopped out. But, I buy Gold again at the Pivot of next week.