Perfect Gold Breakout
I hope you are well and having a good week so far. I took a Gold trade this morning that I wanted to share with you as it was a perfect breakout that lead to a nice +1.5% gain in just a few hours.
I didn’t get the best start to the day having taken a small loss first thing but then noticed the opportunity we had here to gain some ground back. On the right we have our Daily chart which as you can see has been in a bullish trend recently when looking at price and also our moving averages. The last few days have seen price pull back in to one of our moving averages and show signs of a bounce which gave me to indication that I was looking to go long when looking for trading opportunities. Moving down to the intraday chart on the left you can see the setup presented itself following consolidation in the early hours of this morning. Just after 9am price broken above the highs signalling our entry for the trade. At first price struggled to get going but once it did it didn’t hold back and flew to our target banking a nice +1.5% profit.