Gold (GLDRUB) is a growth trend
"The US Federal Reserve has confirmed plans for three rate cuts this year."
The decrease in inflation in the United States inspires confidence in the Fed in the possibility of a rate cut as an incentive for economic development. The growth of the money supply and the US government debt does not stop the Fed in its policy, which has a positive effect on the dynamics of gold.
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. In mid-February, there was an exit from the channel, and the price went up quite actively. At the same time, there are no significant resistances on the long-term chart. In our opinion, the target of the pair's movement is 7,100 rubles, which is 9% of the current price of 6,500 rubles.
STOP LOSS
Do not forget about risk management and portfolio diversification. The idea is a continuation of the previously voiced idea for this tool, which was not closed when the goal was achieved. The stop loss and cancellation scenario can be increased.
It is recommended to buy a pair for no more than 20% of the account. If the price is fixed below 6000 rubles, then the growth forecast of the pair is canceled.
The stop order[1] can be placed at the level of 6020 rubles (-6% of the current price of 6500 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/
