Gold

Bullish reverse head and shoulders nearly formed on gold – target is $1700 if it is confirmed

www.goldmadesimplenews.com/gold/bullish-...-is-confirmed-11729/

Whats comment from experts in here?

Long @ 1322
SL below 1292

R/C,

A man after me own heart

Like you, I'm in. Alas, I should posted my CfD entry (1321) on here instead of the iii POG board just after 7pm! I guess I was a bit excited.

Not sure if this is short-lived, I personally hope it has legs, but like the ol' saying goes "hope is just a four letter word to a trader!"

p.s. The downside of this move, for me personally, is that part of my salary is in USD, so erm in a nutshell: Ouch!

p.p.s Thinking of opening an order via IG Markets on POG at 72p to be safe, do you have any experience of orders being taken in situations like this?

As ever, good luck and be safe!

Libero wrote: R/C,

A man after me own heart

Like you, I'm in. Alas, I should posted my CfD entry (1321) on here instead of the iii POG board just after 7pm! I guess I was a bit excited.

Not sure if this is short-lived, I personally hope it has legs, but like the ol' saying goes "hope is just a four letter word to a trader!"

p.s. The downside of this move, for me personally, is that part of my salary is in USD, so erm in a nutshell: Ouch!

p.p.s Thinking of opening an order via IG Markets on POG at 72p to be safe, do you have any experience of orders being taken in situations like this?

As ever, good luck and be safe!

Libero,

I was thinking of going long at 1311 area when it was showing a nice hammer on the chart...but then the sudden spike came and by the time I could open my trade it was already in the 1320s! I didn't go long just because of the sudden spike but technically also it looks good. That said I have already closed a part & have moved the SL for the rest to above B/E so it's a risk free trade!

About POG If I am assuming correct you want to take a Long position...you can have an order to open ready @ 72p but it won't get filled if it gaps up above that level at the open. I personally wouldn't advice it as if it has gone to 70p it doesn't mean it won't go any lower. I would wait for a 123 low or go long at the previous low like Remo said with a tight stop.

Good Luck & Happy trading mate

Hi R/C,

Thank you man.

Sanity Prevails here I think. Rather than go with impulse (I think I've missed the POG trade), I'll be content with what I got).

You're right on the money (excuse the pun), regarding Remo's chart, as well as the 1-2-3 set-up.

Have a good evening and thanks again!

I could be wrong & POG could gap up massively tomorrow BUT from my own experience in the past it will defo give you an opportunity to get in with less risk than what you would have with an order to open!

PS - if part of your salary is in USD I assume a part will be either in GBP or EUR so it should naturally hedge itself!

If not, paying attention to Feds comments today ( which could lead to extended W5), I would add to my position on Gold (inflation hedge) rather than concentrating on POG/ randgold or other gold miners