Gold Pullback Holding 20-MA Support, Stop Raised to 4,065
$Gold - main 2512(GCmain)$ (Update) – Pullback from 10× ATR% above the 50-MA, currently resting on the rising 20-MA at 3.7× ATR% from the 50-MA.
I’m remain in my gold futures position (for 56 days) as yesterday’s move did not break Tuesday’s LoD (8:13 PM ET), following the first close below the 10-MA.
My stop is now raised to 4,065 since gold has closed below the 10-MA for the second consecutive day. All stops adjustments are based on my non-discretionary sell rule, there's no second guessing.
The key point: if my stop holds and higher lows continue to form (allowing further stop adjustments), gold could be a potential add after this consolidation, especially if the range breaks above 4,162 (Wednesday’s high).
Technically, gold may just be pulling back from a 10× ATR% extension off the 50-MA. VARS remains strong relative to $SPY. With media frenzy only ramping up this week, there could still be momentum left from retail participation.
Will post up the trade in subscriber community when XAUUSD is ready for my low risk add entry.
Image
For whom haven't open CBA can know more from below:
🏦 Open a CBA today and enjoy privileges of up to SGD 20,000 in trading limit with 0 commission. Trade SG, HK, US stocks as well as ETFs unlimitedly!
Find out more here：
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
