Gold has broken down and is ready for you to profit
When you look at the chart. You can see gold has been going up on a strong floor line line (pink line) from $1,128 up to $1,248.
But as of last week, we saw gold break below the support level ($1,236), for the first time this year. This instantly turned gold’s uptrend into a downtrend.
You can think of a support level like a thin layer of ice. The more you stamp on it, the higher the chance it will break to the downside. Learn more about the support line here…
And that’s exactly what it’s done.
Now that it’s broken below this level (yellow circle), the next target gold is likely to head to is the previous low (Green line).
In this case, the low is at $1,128, which was the start of gold’s uptrend in December 2016.
From where gold is currently ($1,228) and where the next target is ($1,128), means gold should drop 8.1% in price.
And here’s how you can turn an 8.1% move into a 31.54% gain with the power of trading gold CFDs
If you want to get in on this action there are two ways you can do this.
One - You can sign up with a broker. This is where you’ll gain access to commodity financial instruments where you can trade gold CFDs.
You’ll put in your trade entry, stop loss, take profit level to short gold.
Let’s use an example. Let’s say your entry price is at $1,228, your minimum deposit is R317 and your take profit level is at $1,128.
Here’s how to calculate the gain you’ll make.
Gold CFD trade gain=(Entry – Exit) ÷ minimum margin X 100
=($1,228 - $1,128) ÷ R317 X 100
Note: The minimum margin is the amount of money you’ll need to put into your trade to own gold CFDs. You can get this number from any broker.
If you don’t know where to put your stop loss and how much to risk, then it’s better to join Red Hot Storm Trader.
This is where I’ll do all the work for you. I’ll send you an email and sms with all the information as to what to get in, set your levels and where to get out.