XAUUSD GOLD (12H): $1650 by the end of the year?
My thoughts on Gold. I believe it pushes once more perhaps to 1600-1650 as the buying power is still strong. If it happens, we might see these levels by the end of November or a bit later.
GENERAL RULES TO KEEP YOU SAFE:
1. Do not risk more than 2-3% per trade!
2. Always use stop-loss!
3. Do not FOMO!
4. Do not add to a losing trade
THIS IS NOT A FINANCIAL ADVICE so, please do not follow it if you are in doubt. DYOR!
GENERAL RULES TO KEEP YOU SAFE:
1. Do not risk more than 2-3% per trade!
2. Always use stop-loss!
3. Do not FOMO!
4. Do not add to a losing trade
THIS IS NOT A FINANCIAL ADVICE so, please do not follow it if you are in doubt. DYOR!
The price has finally reached the zone that I mentioned previously. Although it took much longer time to evolve, with a proper stop loss one could keep riding the wave. We still have not seen a major pullback so it is possible that the next retracement can be of more significance.
It ia not advicable to jump in now because it is most likely too late and Risk-Reward ratio is not favourabe. I consider a zone between 1650-1700 as a stronger resistance where we can potentially see a shard downward movement. DYOR!