The Big Swing! Why now? As of Friday Nov 8th, we had a weekly close under the major weekly swing level at 1465. Since then, in the last 2 weeks, we have had a very weak retracement, and therefore what appears to be price acceptance under the key level. the first leg of this trade is similar to the USDCHF and EURUSD setups, basically we are trading a retrace down to a fib swing target (ideally we get up around 1480 for an entry @50%) once we break under the daily swing low @1445 i expect to see a fast move down to the 1400 level, which is really the key to the broader setup a monthly closing under 1400 would be required for the rest of this trade to play out Fundamentally, there are reasons to believe that the recent bull market in Gold may have reached an exhaustion point, and is perhaps close to reversing to test a multi month swing level at around $1300. the key to all this remains the USD, and with the repo crisis kicking into high gear, i can easily see a situation in 2020 where a global shortage triggers a screaming bull market and blows up several balance sheets all over the world... with that said, im not in the $720 camp on gold (yet), if this is gonna play out, we would need to see multi stage confirmation as we go along for now, we're (perhaps) at the very start of this move, we need to first test 1400 and see how price reacts. FTR i have started building my position on this trade already after the weekly close mentioned above. due to the conviction level, im being slightly liberal with my risk limits RISK MANAGEMENT IS KEY! good luck!
RISK OFF PLAY: Don't trade if you already have risk-off trades running because if risk-off turns to ...view more
"""""REVO Strategy""""" This is a best buy at the current level for TP @ 1.91600
NZDUSD should head down today i have recieved short signal and this should sell of stop is only in case of emergency. Will ad to positon if it goes against me will let you know in trade idea and close out for small profit or loss. Good luck and happy trading