Good Risk/Reward Ratio to Buy Gold at this Level

The long term trend is definitely bullish, so even if this setup fails, the risk of holding gold long term is very minimum.

The best trade/investment I believe is to buy pull back in the early stage of a long term bull trend.

I am long ABX and GDX.

Note

I started my gold long position last week. Amazingly it's already in profit against the backdrop of crazy usd highs. Usually this is a very good sign.

Note

The speed of the rise as of now suggests the move up (at least a temporary one) has started and it's likely an impulsive up trend.

coolingla

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coolingla