Is Now The Turning Point For Gold To Resume The Bull Trend?

I am bullish on gold based on a longer term view looking into Q4 2018 onwards. We could see gold reaching $1550/oz in early 2019 and even get to $1700 by the end of 2019 by studying the chart patterns.

So, I wouldn't short gold (as bullish trend is in play) but will wait for the next pullback and then buy to give you a risk free trade to hold for the next 1 to 2 years.

As a value investor, I prefer to buy after a major pullback when that opportunity would arise.

Can we get the pullback and at what price level?

I had mentioned this before in my recent article that if we get a pullback, gold could reach down to 1250 or even slightly below 1200 for a better buying opportunity.

Since January, gold price movement has been choppy and extremely difficult to trade on either direction. And from March 20, Gold price has moved up sharply, taking sellers by surprise amid selling pressure started from 1365 peak on Jan 24.

Is now the turning point for Gold to resume the bull trend? Will the buying impulse kicks off from here?

Before I can say this is the start of bullish trend, I have to see the following 2 scenarios to play out:

1. The price has to break above 1368 high (July 2016)

2. The next 3 daily candles must close above 1368

Only when I see these criteria are met, then only I would confirm the bull trend has started right now to gun 1550.

$1368 will be the zone (Buy zone #2) I would enter any long position for the next up move if the $1200 pullback I am expecting did not materialize.

If I don't see ANY of Condition 1 and Condition 2 happening near term, a pullback to 1200-1250 (Buy zone #1) will be presented for the best buying opportunity. When that present, seize it.



Copy trade system at Signalstart

The key advantage of copy service is not having to spend countless hours each day to find trades and manage them.

This forex strategy has already recorded over 200% returns in 2017. It is again projected to repeat this performance in 2018!

Also, you have a top trader and fund manager, Ramesh, who has a vested interest in your success too, since he has his funds invested in his Genesis system. There is no need to purchase any expensive trading software or attend a seminar to learn about new strategies which usually would not come with any track record of its success.

Track record is paramount. Genesis Asset Monitor has a solid record. When we purchase a new car, we do ask about its quality of build and performance. Then, why in trading, you have to trust or believe a software or system without any verified proof? Genesis copy system is changing that.

About the author

Ramesh is an active trader producing over 200% gain in 2017 and author of 3 trade strategy development books sold on Amazon. He is the creator the 10/20/30 Rule™ that could transform a mediocre trading system to become a top performer by following a systematic and thoughtful approach on strategy development.


#trading #stocks #backtesting #strategies #autotrading #forex #investing #copytrading #socialtrading #investment #moneymanagement

RSS Feed
Featured Posts
Recent Posts
Search By Tags
No tags yet.
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

Copyright Ramesh Selvarajoo, 2017-2019