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Gold Futures - Jun 24 (GCM4)

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Currency in USD
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2,230.70
+18.00(+0.81%)
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Gold Futures Discussions

Great development for our buying strategy as Gold (XAUUSD prices used on my analysis) even broke above the 4H MA50 and now with have a confirmed break-out buy call. This is extending the profits from the buys made earlier this week. Observe the important of thw 1,615 level that I was emphasizing since last week. Only a closing below it can be considered as a sell break-out (TP # 1,575). Until then we are good to buy the pull-backs on tight SLs within a 3 week horizon, targeting the 1D MA50 (which is now at 1,724.65). Even the 1D time-frame is shifting towards neutral readings (RSI # 44.998, MACD # -21.860, ADX # 29.776). Since trading is all about risk management, if you feel satisfied with the +3.50% profit made since Monday, book the profit and engage again if the 1,688 Resistance (Sep 21 High) breaks. Remember that apart from the technicals, this rise on Gold is caused by the strong pull-backs on the US10Y and DXY. Anyway, enjoy the profit made for yet another week and have a great weekend.
Well done! Thank you for the accurate calls :)
thanks GG, you are the best , as always👏👍
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