Gold is building for a measured move to $1187 on XAUUSD.
Gold "range expanded" out of the recent "mode" at 1135-1130, which triggered the first buy signal of a 10-day long potential rally to 1187. We are in DAY 3 here.
The pullback today provides another entry to the mid-point of the "range expansion day" highlighted in "bright blue". The target on this position is highlighted already.
The stop on the bigger trade to 1187 is a stop at 1129, from an entry at 1147.
Buy more on another range expansion rally (yes, buy on strength, up $14 on the day) and use a stop 'down on the day".
Target 1187 on that additional purchase also.
Best,
Tim
11:43PM EST October 7, 2015
Operación cerrada: objetivo alcanzado
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1187 reached
Comentarios
IvanLabrie
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Excellent risk/reward here...Let's see how it goes.
Justiceisfalse
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Concur - with a bit of a different perspective
manijeh.kazemi.33
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thanks time for nice analysis
timwest
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You are welcome!
IvanLabrie
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This one looks very good.
Fxprotrader
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Brilliant analysis here..! Gold is bullish in the coming weeks..
Fxprotrader
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tdance
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To the dollar, man. Well done.
jangseohee
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marvelous!! Great call!
IvanLabrie
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Looks like a big hurdle above...might be a monthly time at mode failure!