Low risk buy idea, Target 1920 for Gold
Hello traders, XAU/USD has dropped significantly for the last couple of weeks.
However, things could change pretty soon and we can witness a reversal in
Gold. US dollar seems to have peaked for now.
In the daily chart, the area around 1810-1820 is an important level. So, if Gold
drops to 1810, opening a buy trade in Gold@1810 with SL below 1795
and TP at 1920 would be a potential long trade with great risk:reward ratio.
However, things could change pretty soon and we can witness a reversal in
Gold. US dollar seems to have peaked for now.
In the daily chart, the area around 1810-1820 is an important level. So, if Gold
drops to 1810, opening a buy trade in Gold@1810 with SL below 1795
and TP at 1920 would be a potential long trade with great risk:reward ratio.
Note
So far looking good, price holding above the demand zoneNote
400 pips up from my buy zoneTrade closed: target reached
Target reached. A huge 900 pips gain
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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.
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.