LiamPHudson

This is not an active trade idea, however at somepoint I belive Gold will visit the 200 day MA. With the help of ChatGPT I found that gold on average has touched the 200 day mopving average on average twice per year for the last 50 years. Currently we have not touched it since November 23, the law of probability and time point to that we will be there soon.Now before everyone tells me this is not possible lets put some context in this possible move. Gold's 200 day MA is currently at 2719 and in a few days it will be at the last major high pivot of 2788 - this was the level that gold was just 6 short months ago. Keep in mind that the dollar has just touched levels it has not seen since March 22, a 6 month back track of price is not that major.I am long term bullish on Gold and will always be looking to get long in the long term. My current position I am short from 3466 with TP at the small gap fill around 3175.

Here we have the chart of my last 2 gold trades.First trade was took at the top of the first down trend with an entry of 3053, here I was anticipating a move to the 2950 area, at least. It was a profitable trade, I closed half of the position for a 400 pip gain, with my SL then moved to 200 pips in profit - which was then hit on the break of the trend.Following that price action we hit a massive 3 bar surge on the daily, massive move, massive momentum and unfortunately I was not in it! However this morning we seen more crazy move before the London open and I entered another short at 3145 when the STF was showing weakness, this is nicely in profit approaching 400 pips as I write this, SL at entry.On the close of this latest hourly we see we have broke below the major trend, and next I will be looking for a re test of the trend line/area of consolidation where I will add to my position with the overall retracement target remaining a massive 2950 - will i hold it until then? Doubtful!The area I was looking to add was hit at 2am UK time so unable to expand my position, but SL remains safe and I will likely now watch and wait with the news coming today.Original entry closed with 200 pips, re entered twice for 200 pip gains both times, still holding a 3085 entry final TP 2955.With all the craziness last week I wanted to be flat going in the weekend, very stop start week for me on gold ended up repeatedly shorting the rally's, not how I like to trade but profitable nonetheless. Last entry closed at +900 pips from 3123 to 3029.

Golds rise this year has been extraordinary, moving around 4000 pips since the start of the year, and most recently powering straight through the previous ATH. I remain bullish on gold for the long term, but this move should so some correction.I am currently short aiming for the 2900 level - this level although over 1000 pip move, represents less than a .382 retracement of this years move, and also hits a nice .618 retracement from the breakout of the previous ATH.Invalid if we close a new high.Great reaction to this trade it got as much as 535 pips into the profit on Fridays early NY session, SL now in small profit and looking for reasons to exit, if we look to be closing under 3020 I will be holding for next weeks move.I was off the charts on Friday evening at the close, I wouldn't have wanted to hold if it closed over 3020 - luckily the movement was good today nonetheless.I have closed half the position for 400 pip move, holding the other half to push lower.Possibly looking to add if we test and reject the 3030ish area again.