Hello my dear friends and traders how are you? I hope you guys are doing very well and making a good amount of profit this week. We can see that the gold uprising movement of 1820 right now was a clear bullish movement that I was expecting yesterday and gave my analysis about the Gold and target level of 1825. On the other hand, we can see that GBPUSD is also moving in the upward direction of War 1.3927 and there is very much possible that it can continue the upward direction over 1.400 today because you can see that the news effect of GBP currency monetary policies and other important news all came very positive yesterday.
I've just opened a gold buying position dating back to 1820, and this is a straightforward pattern trading scheme. Following the easy pattern for the m15 map, we can see that my target area is at the 1826 mark, which is the closest resistance level. If the prize from place 1814 is refused, I will cancel this order and wait for another submission. My gold trading place is generating a floating profit of over $3, and I expect it to generate at least $30.
Yes if we look at the GBPUSD price level which was swinging from 1.3860-1.3940 since yesterday after monetary policies news came positive and there were several swings and swing back happen. Now I am expecting that the price of GBPUSD will rise over 1.400 easily. Look at the M15, H1, and H4 charts.
Reason behind entry position
As I previously said, the gold position was simple moving average line pattern selling, and there is resistance over 1826, which is the primary target level; however, if the market breaks through the resistance, it will continue to 1845 today.
The GBPUSD, which was a closed deal, was focused on news trading that affected the USD index and the GBP currency yesterday as a result of monetary policies and other evidence. This was the most recent information.
Yes, you are aware that we need to be aware of fundamental factors and news; otherwise, trading would become pointless, and the trend will go in any direction at any moment. GBPUSD and gold are now in a positive cycle, although this does not mean they will last indefinitely.
Take a look at the map below for the exit location.