XAUUSD GOLD: Nice Levels to add Long
Gold prices fell in Asia on Thursday as the Fed appeared a tad more hawkish in the December meeting minutes and investors fretted over inflation implications.
Minutes of the Fed’s December meeting showed officials expect reductions in corporate and personal taxes to provide boosts to consumer and business spending, though they remain somewhat unsure of how much impact the recently passed reform effort will have.
Gold pulled back and hit 1304 as we have mentioned in our latest article. http://www.fxters.com/xauusd-gold-forecast-technical-analysis-01-03-2018/
This level can be used as a buying opportunity for midterm trading. Short term targets are 1320 and 1328. Stop Loss is 1296.
We predict GOLD prices continue to rise until the end of the first quarter of the year. We will update our GOLD strategy ( Long Term) at the end of the February for our premium members.
The trend is still strongly bullish. 1320 and 1328 are the first targets of the Gold. However, I would like to remind you that NFP will be released tomorrow. A better than expected figures will put Gold prices temporarily under pressure.
Trade Reached the first target with 210 Pips. Trade closed as we have another GOLD LONG position.
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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.
If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.
WARNING ABOUT TRADE IDEAS
- We enter trades on different pairs and we look for other trade opportunities. So we recommend you to enter trades with the smaller size.
- Do not exceed 10% margin.
- Stop Loss and Take Profit Levels are +/- 15 pips minimum.
- If we do not publish an update close the 40% of your position on the TP1 level and move your stop loss to entry level.
- Some trades ( especially with 300-500 pips profit target) can take 5-6 days to hit the targets. If you do not have patience, do not enter the trade.
- Our aim is to close each with week 2500-3000 pips profit minimum.
- If we mention as “pullbacks are buying/selling “ opportunities and we publish pullback levels, you do not need to wait for a signal from us. Use these opportunities at the mentioned levels.
- All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly
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