Gold - now is correction time - short with good risk/reward
Updated
After one bullish week is gold looking for a correction which would be healthy and needed for next up movement above 1350 $. I expect down movement at least to 1325 and in best case down to 1315. From there you can expect strong support and end of correction.
On the one hand, financial market players are hoping for progress in trade talks between China and the US, and thus for the absence of new punitive tariffs. On the other hand, the interest rate fears have dropped significantly. Many people are waiting for the results of the Fed´s latest central bank meeting, which was announced at the end of January.
On the one hand, financial market players are hoping for progress in trade talks between China and the US, and thus for the absence of new punitive tariffs. On the other hand, the interest rate fears have dropped significantly. Many people are waiting for the results of the Fed´s latest central bank meeting, which was announced at the end of January.
Note
Risk/reward ratio take profit 1 --> 2 Risk/reward ratio take profit 2 --> 3
Trade active
booked already profit with 50 % of position at tp1 - tp2 still validTrade closed: target reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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