Tag: XAUUSD Analysis

This is my trading plan for gold (XAUUSD)

Having a trading plan enforces us to be disciplined.

That is the reason I always try to have a trading plan for each of the instruments and currency pairs I’m trading.

It doesn’t have to be complicated, rather something simple, and easy to follow.

For instance, we all know gold tends to go up when there is economic uncertainty in the world. But it’s not like I’m going long right now, I need to find the right level and time to go long (with technical analysis).

So here is the short term chart:

So right now I’m waiting for the market to break the upper short term resistance level, because I know that once it happens, it is likely to continue its way up.

What do you think? Do you trade gold?

Cheers,
Raul

forex, trading gold, XAUUSD Analysis

I’m ready to look for long opportunities on gold (XAUUSD)

Last week I write about Gold, it was on its way down and I was expecting two things:

  1. waiting for it to reach the next long term support level and
  2. get rejected from it.

Guess what? It just happened.

It looks like GOLD (XAUUSD) was rejected from the main LT support level and should be ready to continue its way up.

This is how the daily chart looks like:

What do you think? Are you trading it?

Let me know.

Cheers,
Raul Lopez

forex, trading gold, XAUUSD Analysis

Are you trading gold? This is my trading plan to trade it

It’s been a while since the last time I placed a trade on gold, but I’m really thinking about trading it in the following weeks.

Take a look at this chart:

So it looks like it will go down a bit, and then turn around.

Of course I’ll wait until we see a clear rejection of the support level, then I’ll start looking for long opportunities.

Do you think it’s a good plan?

Cheers,

Raul Lopez
Forex Course

forex, Gold, XAUUSD Analysis