Monthly candles show an upward-sloping channel for Gold (in line with the current correction on the equities markets). You may opt for a long position once the mid of the channel (white line) is broken upwards or start short-selling once the price touches the upper limit (red line) of the channel. Another possibility is to wait until the entire cycle is finished and buy it from the bottom of the channel (green line).
well I share this view and already play it.. now i would rather by at bottom, but if we have to wait months, the new channel bottom will be today's price. not sure whether buy or wait...
K-maro99
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@gemereno, tricky yes, naturally the impulsion will bring it higher although the stop loss is expensive at this point so I would advise to buy and put the stop loss far enough