our dear friend @rnavarro12 asked me to explain my rationale of going long. so let me share, I might be wrong... time will proof
From technical view point
1. price is closing above 200 Day SMA
2. The move from 0.5506 to 0.7064, is 1558 pips in about 83 days
3. Higher Low was made at 0.7064 taking out previous suppply zone
From the fundamental view point
4. US is doing another round of QE since 2008, Lehman brother, what happens when US does QE? Gold price goes up and US dollar goes down
However with good risk management, and long term trend, a 50% win rate will do the job.
From technical view point
1. price is closing above 200 Day SMA
2. The move from 0.5506 to 0.7064, is 1558 pips in about 83 days
3. Higher Low was made at 0.7064 taking out previous suppply zone
From the fundamental view point
4. US is doing another round of QE since 2008, Lehman brother, what happens when US does QE? Gold price goes up and US dollar goes down
However with good risk management, and long term trend, a 50% win rate will do the job.
