Gold Trading Signal Traders
The trading signal from last time has had an immediate effect. AUD/USD shot up 100 pips on the day after I have been writing about it. Price action has once again confirmed our thoughts in support of this beautiful and simple way to trade the markets. I have been using my intraday strategy to build up a bigger position during the day. But if you have followed my trading idea, you would be in profit by now. In the end, it is important to follow your discipline strictly, even if it means losing. No matter how many times you have heard this statement, it is never enough.
Today, I am looking at a gold trading signal. Price action has once again confirmed that more buyers are willing to join the Gold’s recent rally. If you interested to know more about specific gold mining stocks, you can read my previous article here. Some of these stocks are already over 70% up. Today’s trading idea is based on a bullish engulfing candlestick pattern on the daily timeframe. After the recent rise, we have seen a small consolidation and now I believe it is high time to see more buyers pushing gold higher. I am looking to go long Gold at around 1225. My stop-loss would be placed just under 1200. My primary target is at the level of 1255. My secondary target (depending on price action) is 1300.