Week 42: Gold trading plan – Bullish on Gold

Disclaimer: All information shared is solely for learning purpose and it does not constitute to a buy/sell call.

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Gold trading plan:

Weekly Chart:
As mentioned last week, should gold be able to go above 1,921, the upside momentum would be stronger. We are pleased to see Gold closing ~1,930 range on Friday. This coincides a nice break out of the chart and we would expect large bullish momentum to be in.
Generally with a large break out, there may be a small a possibility for Gold to have a deep pull back to back test resistance turned support level. The way to trade this is to long the break out pattern and monitor for a guaranteed stop profit (this level can be adjusted higher as and when Gold moves up). (In case deep pull back happens, you will still be able to get out with a very decent profit).
Note: In the immediate term Gold is very bullish.
Daily Chart:
Gold has finally executed a nice strong break up of the downtrend. As mentioned last week, when Gold closes above 1,921, it would be very bullish. Both MACD and RSI are supporting this Gold bull on Friday and it would be expected to continue for the upcoming week.
4 hours chart:

 

Similar to Weekly and Daily chart, 4hours chart is showing a very bullish sign for Gold as well. Sit back and enjoy the immediate term massive bull run 🙂
Gold companies as mentioned in the Investwhizz Exclusive and Investwhizz chat groups are likely to be gapping up in the up coming week as well 🙂

Want to learn how to take full advantage of this massive bull? PM me in Telegram!

As no trading/investments are guarantee sure win, please do your own due diligence and always look at risk to reward and trade with guaranteed stop loss (private message me to know more).

Past article written on how to use guaranteed stop loss; do private message me in Telegram for me to refer you to IG.Regards,

Ernest Koh