Trading the trend: long gold
We would like to use the recent decline in the gold price to go long gold, with a stop loss below the early May low at $2,275 per troy ounce, and an upside target at $2,440.
(AI Video Summary)
Previous trading outcomes
In this week's episode of "Trading the trend," Axel Rudolph discusses strategies on various trading assets. The TUI travel agent's share price, despite an initial fall, held above the January low and the 200-day moving average, presenting an ongoing valid trade.
For EUR/USD, the situation was mixed: a protective stop below a recent low could have exited some positions, while others remained profitable.
Natural gas was identified as profitable with recommendations to either secure profits or adjust stops to breakeven for a risk-free position.
This week's trading opportunity
This week's "Trading the trend" focuses on gold, viewed as an entry opportunity after its price pulled back from a recent peak. The suggested approach is to go long, with a stop loss below the early May low at $2,275 per troy ounce, and an upside target at $2,440.
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