Connect with us

Hi, what are you looking for?

Economy

Trading the trend: long gold

Previous VIX and EUR/USD trading outcome

In this week’s episode of “Trading the trend”, Axel Rudolph revisits his previous successful trade of going short on the volatility index in mid-April, capitalising on geopolitical tension-induced fluctuations without being stopped out, suggesting profit-taking or stop-loss adjustments to safeguard against losses. He also highlights a profitable short position on the EUR/USD currency pair, with advice on managing risk through stop-loss strategies.

This week’s trading opportunity

Rudolph then recommends to go long on buying gold futures, anticipating a rise, but advised a cautious approach with a wide stop-loss due to potential volatility from imminent FOMC and non-farm payroll reports, targeting a significant upside. He advises going with a stop loss below the mid-March lows at $2,145 and an upside target around the $2,500 mark.

This post appeared first on ig.com

You May Also Like

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2024 Oldamericanbroker.com