Alec40
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Why Gold May Reach 1400 After Pullback + A Couple Trade Setups

TVC:GOLD   黃金 (US$/OZ)
Hey Traders, Gold             recently made a meaningful move higher & I expect this uptrend to continue however, as we know, nothing goes up in a straight line & if it does, it is most likely not a sustainable trend. I do not recommend taking a counter trend trade unless you have a specific strategy and trade plan that has been thoroughly back tested. I am currently holding a short position (countertrend trade) on gold             . As mentioned in the title of this idea, I do believe gold             will continue higher & ultimately hit 1400 before the next meaningful pull back therefore I am watching my short position closely and aggressively managing the position on a lower timeframe.. I have highlighted a couple different price zones that I believe to be key levels & I will be watching those levels for any bullish indications. If gold             does begin to show bullish signs near my price zones & my conditions & criteria for entry are met, I will flip my short position to a long position to lock in profits & rejoin the uptrend..

Reasons for entering a counter trend trade:
- Strong Weekly Resistance Level (Red Zone On Chart)
- Strong Bearish Divergence On The Momentum Indicator at a Weekly Resistance Level
- Fractal (I will explain Fractals in a future tutorial but just to give you an idea, Fractals typically appear at strong levels of Support & Resistance .)
- Weekly Bearish Engulfing Candle
- Daily Shooting Star Candle At Structure Resistance

snapshot
snapshot

I hope this was helpful! feel free to share your analysis on gold             or ask any questions regarding my setup. Thanks Traders!!
交易結束:目標達成: Target 1 & 2 have been met! Another great trade here on tradingview. I am now long gold & silver again. In this idea, I highlighted a potential buy zone on gold and we did receive some bullish signs near that zone therefore I flipped my short position to a long after target 2 was met.. I am expecting gold & silver to continue to rise here. I will be publishing another idea regarding the metals asap. Thanks Traders!
Thank you. Am shorting gold as well at the moment. Am worried about FOMC reaction. Will be volatile, somone's going to get fooled. Hope not me.
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