GLD/RUB – the spring is compressed
"According to a report by the World Gold Council, 271 tons of metal were withdrawn from the Shanghai Gold Exchange last month, which was a January record in the history of observations and the third largest volume in the history of the exchange."
Interest in gold in the world does not weaken due to the exposure of reserve currencies to inflation, as well as the use of these currencies as a tool of pressure by issuing countries.
TAKE PROFIT
Since mid-August 2023, the GLD/RUB pair has been moving in the channel as part of a correction to the previous growth. Since mid-November, a local growing trend has formed for the pair, within which the pair broke through the upper limit of the channel. In our opinion, the target of the pair's movement is 6,500 rubles, which is 10% of the current price of 5,910 rubles.
STOP LOSS
Do not forget about risk management and portfolio diversification. It is recommended to buy a pair for no more than 10% of the account. If the price is fixed below 5670 rubles, then the growth forecast of the pair is canceled.
The stop order[1] can be placed at the level of 5,750 rubles (-2.7% of the current price of 5,910 rubles).
[1] Risk management includes: setting a certain type of stop loss at certain levels, a position set method, a position reduction method, holding certain timings for decision-making and is of an individual nature, based on your personal risk profile. If you have any questions, you can contact our trader for advice (Portfolio Consultant package at the link https://eraperemen.info/priobresti/).
Disclamer. The analytics presented here are designed for people who have at least a basic understanding of the Russian financial market. If you have difficulties with the practical implementation of our recommendations, you can use the services of our specialists with the Portfolio Consultant package at the link: https://eraperemen.info/priobresti/
