Gold_The Perfect Hedge?_Daily Chart is Key
Hello Traders!
I am looking at Gold futures /GCZ17.
Indicators are showing bullish activity in gold since price has established long-term uptrend by breaking and holding more than 9 days above 1300 level (verified 8/25.)
Our latest upstroke started on 07/10/17 with a low of 1211.1. We ended on 9/08/17 with a high of 1362.4. Since then price has pulled back and respected the strongest fib level .385.
Recently price has broken the trend and moved above our 9 & 12 exponential moving averages- EMA's. We are even showing lower time-frame rejection of the buy zone formed by the EMA's.
Lastly consider Gold as a safe heaven asset in context to stocks and indexes at all-time highs. Seems like a fail-proof hedge against any news/data/disasters that could play out now until Christmas. I personally believe stocks are overvalued at this moment.
I'll be considering longs if we get a verified close above 1285 and updating this post as necessary.
Like-Comment-Follow! Much appreciated!
Trade Well.
I am looking at Gold futures /GCZ17.
Indicators are showing bullish activity in gold since price has established long-term uptrend by breaking and holding more than 9 days above 1300 level (verified 8/25.)
Our latest upstroke started on 07/10/17 with a low of 1211.1. We ended on 9/08/17 with a high of 1362.4. Since then price has pulled back and respected the strongest fib level .385.
Recently price has broken the trend and moved above our 9 & 12 exponential moving averages- EMA's. We are even showing lower time-frame rejection of the buy zone formed by the EMA's.
Lastly consider Gold as a safe heaven asset in context to stocks and indexes at all-time highs. Seems like a fail-proof hedge against any news/data/disasters that could play out now until Christmas. I personally believe stocks are overvalued at this moment.
I'll be considering longs if we get a verified close above 1285 and updating this post as necessary.
Like-Comment-Follow! Much appreciated!
Trade Well.
تعليق:
Gold is looking very bullish this morning, along with all other indexes looking up. I'm going to go ahead and place a buy order at 121.50 OCO with stop at 119.66 and target 128.
تعليق:
I am trading via GLD SPDR shares. Orders are active at 9:30 am.
تم فتح الصفقة:
bought in GLD 112.10
