Gold Price Forecast – Continues to Swing Up

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The gold markets They have risen significantly during the trading session on Friday, reaching the level at $ 2000 before turning down. I think this could be the start of a process of collecting benefits and you should not be surprised to see that we correct since we are approaching the weekend. After all, investors have been able to make good profits and there is no point in simply letting them slip away.

Video Predictions Gold Price 03.08.20

Despite this possible correction, what I am going to do is look for a buying opportunity in the lower levels and if I see that any candle with the aspect of offering support, I will try to take advantage of it. The bullish trend line continues to play a relevant role, as will the 20-day exponential moving average (EMA). We may break above the candle that is forming during the day but I do not like to buy right now because the movement would be too parabolic and that is something I normally do not like.

What you have to do is look for value, it is the best way to operate in this market and it is probably the best way to operate in any market. Following the trend is also doing the same thing because you buy when an asset is “cheap” or you sell it when it is a little “expensive.” And that is the great secret of trading: realizing that there is no point in playing smart with the markets.

There may be an interesting selling opportunity from current levels that could allow us to make some money but personally I find it less stressful to go in the direction that I think the market will go in the long term. The Federal Reserve guarantees that this market will continue to rise.

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This article was originally posted on FX Empire

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