Daniel Ang

Buying Opportunities in XAU/USD - Bought #1 @ $1928.16 Wed, Feb 01, 12:23pm. #2 Bought @ $1,924.02 Wed, Feb 01, 15:01pm. Moved Stop to $1,929.00 Thu, Feb 2, 21:24pm. Stopped Out @ $1,929.10 Thu, Feb 2, 22:54pm +$51.36.

Chart XAUUSD, H1, 2023.02.01 05:02 UTC, Blueberry Markets Pty Ltd, MetaTrader 4, Real

Chart XAUUSD, H1, 2023.02.02 04:19 UTC, Blueberry Markets Pty Ltd, MetaTrader 4, Real

Chart XAUUSD, H1, 2023.02.02 16:03 UTC, Blueberry Markets Pty Ltd, MetaTrader 4, Real

Gold has been on a tear since hitting a low at $1,616.66 on Nov 3, 2022. So persistent was the rise, it hit a 9-month high at $1,949.07 last Thursday, Jan 26. That translates into a gain of some $332.41/oz or a gain of 20.5% in slightly over a month. This confirms this market is on a very explosive phase right now.

Last night saw a relatively steep pullback to $1,900.84 but ended the day as a hammer in the daily time frame. This is definitely a very bullish development.

There is every possibility we may see a sustained rally towards the equivalence of $2,000 basis the Feb 2022 COMEX Gold futures.

TRADE IDEAS

#1  Bought @ $1928.16 Wed, Feb 01, 12:23pm.

#2 Limit Buy @ $1,924.00. Order filled @ $1,924.02 Wed, Feb 01, 15:01pm.

#3 Limit Buy @ $1916.30

Stop @ $1898.00. Moved Stop to $1,929.00 Thu, Feb 2, 21:24pm. Stopped Out @ $1,929.10 Thu, Feb 2, 22:54pm +$51.36.

Target @ $1997.60.