This trade is in anticipation of a potential break out overhead resistance.
Gold has been the main trade for so many active traders in 2020, but now the recent consolidation seems to be building up to another strong break.
But the key question is, which way will it break?
Will we see rising inflation plus more global economic uncertainty? Or will it be a risk-on across stocks, pulling funds away from the precious metal.
Either way, this trade is in anticipation of the bulls taking control and looking to drive the shiny metal to new recent highs.
But on that note, the profit target is a little cautious, waiting for a potential lower high...just in case.

Long Gold trade on breakout of resistance 1.41RR

Dec 01 2020

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