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Gold Signal - US Presidential Election - 08 Nov 2016

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Signal details
Entry Price: 
Close Price: 
Expiry Time: 
21:00 GMT
How we trade
5/5 of 3 ratings

Gold started to lose its luster as Donald Trump's chances for the presidency have deteriorated. The financial markets are looking for a big rally in stocks should Hilary Clinton wins and we are looking to capitalize on the opportunity to play an inverse correlation with gold here. The U.S. election is tonight and should Hilary gather momentum into the close of the polls, our trade should work.

A rebound and a retest of 1284 would be needed for us to purchase daily put binary options. We have seen this level tested overnight and we are looking at it as a strong enough level. Only a surprise big show of republican voters can tilt the scales towards Donald Trump in the coming 24 hours, but we find that as a remote possibility.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.