In the intricate world of financial markets, where uncertainty and volatility reign supreme, there are moments that shine like pure gold. These moments are not just about profits; they signify triumph, strategy, and the art of seizing opportunities. Our recent journey through the Spot Gold market has been nothing short of remarkable, and today, we celebrate our golden triumph as it hits our 7th set Profit Target out of 10.
In our post dated 29th of January’ 2024, we emphasized the significance of gold as a safe-haven asset during periods of economic uncertainty or geopolitical unrest. This asset’s resilience is particularly notable amidst escalating global tensions, attracting traders seeking to safeguard their wealth for which we set 10 Profit Targets when the Gold was trading only at 2,018.5.
In our post dated 29th of January’ 2024, we wrote, “If Spot Gold is closing above 2,029.70 and staying above this critical level and its high is taken out, then we would have long positions and our profit targets would be as given below:
2,059.7
2,080.1
2,109.1
2,128.4
2,146.1
2,166.1
2,200.5
2,279.7
2,353.7
2,504.1”
✌️ Exactly as per our Blog Post on Spot Gold 📈 dated 29.01.2024, XAUUSD (Spot Gold) now has hit our set 7th Profit Target💰 out of 10. Three more to hit.
XAUUSD (#SpotGold) hits our set 7th Profit Target💰on 22.03.2024 after hitting our six Profit Targets as below:
1. 2,059.7 on March 1st, 2024
2. 2,080.1 on March 1st, 2024
3. 2,109.1 on March 4th, 2024
4. 2,128.4 on March 5th, 2024
5. 2,146.1 on March 6th, 2024
6. 2,166.1 on March 8th, 2024 ✅ and
7. 2,200.0 on March 22nd, 2024
Total Profit out of this move so far, as of today at the time of writing this blog post, is a staggering 1,703 pips. With an investment of $1 per pip, this is a profit of $1,703 and with an investment of $10 per pip (standard lot), this is a profit of $17,030 within a span of 44 trading days .
As predicted, as inflationary pressures loomed, investors sought refuge in gold to preserve their wealth, hence the price rise in spot gold.
Our Entry: We identified key demand/ supply levels, closely monitoring unique Gold specific price action with our highly successful and time tested proprietary technical indicators. Our entry point was precise at 2,029.70, timed to capitalize on favourable market conditions.
Risk Management: Our proprietary Stop-loss position protected us from adverse movements (which did not happen), ensuring our capital remained intact.
Profit Targets: We set ambitious profit targets—10 in total. Our goal was to strike 10 out of these 10 targets. So far in just 44 days
Amid volatility, we stayed the course matters. Patience and persistence lead to our 7th triumphs. We understood the investor sentiment e.g. their fear and greed which drive markets; we navigated wisely. Gold remains a vital part of a diversified portfolio as it hedges against uncertainties.
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