02/12/24 Gold trade idea
We saw gold push bearish over Asian session with the month starting off and Trump tweeting about 100% tariff's against BRICS.
This however wasn't able to have gold break below the 2623 key level it tried multiple times last week to break and we are already seeing a rebound creating a wick of c200 pips and counting.
With that being sain my trade idea is still BULLISH until we break and close below 2623, areas to look for buys:
- 2655 break and close above there and we have 165 pips from Fridays daily wick to aim for
- 2670 safest buys that we can then hold into the 2700s c2715 being the main target.
This however wasn't able to have gold break below the 2623 key level it tried multiple times last week to break and we are already seeing a rebound creating a wick of c200 pips and counting.
With that being sain my trade idea is still BULLISH until we break and close below 2623, areas to look for buys:
- 2655 break and close above there and we have 165 pips from Fridays daily wick to aim for
- 2670 safest buys that we can then hold into the 2700s c2715 being the main target.
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