Kitco News: Can We See A Skyrocketing Of Gold Prices? Expert

May 15, 2019 - 3:32pm

 by Gary Wagner

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Gold Forecast: Proper Action
On Sunday, May 5th, we sent out a trade alert to enter a long trade in June gold. We entered this position at $1285 with a stop at $1268. Today we sent out a trade alert to modify the stop to $1291.13
Maintain long gold at $1285. Maintain NEW stop at $1291.13, and put a limit order or (if available) an OCO (one cancels the other) to sell at $1310
An OCO order combines a stop order with a limit order on an automated trading platform. When either the stop or limit price is reached and the order executed, the other order automatically gets canceled. Experienced traders use OCO orders to mitigate risk and to enter the market.
A limit order is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.
Gold Market Forecast

The trade negotiations which which ended on Friday will certainly lead to more obstacles than previous trade talks. Higher tariffs: 10% to 25%, and the Chinese response, changes the dynamics and has raised the stakes to a new level: Trade War 2.0.

Sentiment Indicator:
Gold -> Bullish
Silver -> Neutral
S&P 500 -> Neutral
Bitcoin -> Bearish