The GOLD chart is bouncing off the support line and will likely continue the uptrend. As COVID-19 cases are increasing in many countries, and with the speculation of a second wave in Europe, people will tend to hold on to GOLD instead of cash. The price will likely cross the 1800.00 level in the upcoming days (TP1). Once this level is broken, a bullish continuation is probable (TP2). Hence, with fundamentals agreeing with technicals, the trade is executed as follows:
GOLD
BUY: 1770.00
SL: 1740.00
TP1: 1800.00
TP2: 1820.00
GOLD
BUY: 1770.00
SL: 1740.00
TP1: 1800.00
TP2: 1820.00
Commentaire:
Hit first TP with no problem; now waiting for TP2.