We've seen gold break out of a strong uptrend to capture some liquidity before a real move. I've marked on my chart the Point of Control Level. POC is where big institutions are trading the most amount of volume. In conjunction with weekly lows, a demand zone and POC - we should be able to get a really nice entry for some ridiculous returns. In the meantime, if you got stopped out trying to catch the move earlier, take the loss, accept the lesson and move on. DON'T REVENGE TRADE - you will lose. Patience is key. Hopefully, we can make some £ together!
so which price is better for long term Buy entry?? i think gold will drop to 1729 and then go to uptrend?
jamesabuck
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@hamzaanbar39, it’s a potential level the 1772, just my thoughts will have to see nearer the time!
ajrailton
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Great analysis. Got stopped out however I understood the risks when I did now just a case of waiting for the signal to enter for the buy again at the next level of interest.
jamesabuck
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@ajrailton, will have to see what price does around this point, if it rejects then we’re in if if raids the lows then we’ll wait for confirmation!