Wednesday, April 22, 2015

Gold Buy Recommendation April 23rd 2015

Commodity: Gold
Timeframe: Daily Chart (D1)
Recommendation: Buy Gold @ 1,188.50
Take Profit @ 1,300.00
Stop Loss @ 1,133.50

I am hedging my forex portfolio with Gold today. I think the recent dip below 1,200 offers a great buying opportunity and I went long at 1,188.50. I expect the bullish price channel to guide Gold back into its next resistance level.

Expect some volatile trading sessions which could lead to false breakdown below its support level. I recommend taking any false breakdown as another buying opportunity.



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