Drsamc
@t_Drsamc
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XAU had been on a steady Bullish Run , Rightfully so.if any asset deserves to appreciate in its price while doing the most amount of Good, its GOLDBut we traders , look for technical opportunities that's where this trade idea comes in.- Gold is pressuring its recent range with limited bullish strength - also its its most popular cross - USD gaining substantial momentum the last 2 Quarters can make room for a correction before the trend continues to the upside.therefore falling back on pure technical calculations leads us back to our excel sheets for daily range projections which put our range to be exactly 1.03% or 3034 /303* pips depending your brokerage metrics.which leads me to make this 1:4 Trade idea for this week.cheers.
I am trading this range currently Long for the day but looking forward to SELL with eventual TP @ 2885.15as USD has appreciated due to anticipated fiscal policies, tax cuts and positive US tresury yeilds can show bearish impact on non yeilding assets like XAU.Also, the opposite momentum from the crypto correction from the last 2 weeks as the base pair for any /all crypto in the end is USD anyways directly or indirectly dictates a 1% move will probably be filled within this week.which drives such tight forecast.
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