Dubai [UAE], September 12 Morning India: Forex Market is an electrifying place. Once you venture into the Forex world, the adrenaline rush pushes you hard to trade greedily to earn myriad earning opportunities.
Talking about trading Spot Gold in Forex markets, Gold trading is not for beginners. We should not ignore that more than approximately 90 per cent Forex retail traders lose money in the Forex world. However, a few traders & portfolio managers have outperformed and have challenged the convoluted and perplexing markets by performing extraordinarily well.
One such name that tops our mind is RvR Ventures, a team of coders, traders, and financial data analysts with 14 years in Forex & Bullion Trading. RvR Ventures is a master of all trades, from manual traders to automated trading robots, from algorithms to manual trading analysis, from automated trading signals to automated trade execution by robots – they have it all under one roof.
To cross-check the track record, we checked their trading performance and analysis of the last six months i.e., during pandemic times. The analysis was posted by RvR Ventures on 30 March 2020, stating: Gold Prices to rise to 2020 with their appealing quote ‘Gold: 2020 in 2020?’ with further trading scenarios and analysis published on 09 July, 07 August, 12 August, and 18 August 2020 respectively.
In the first week of August, Gold prices crossed the USD 2066.00 mark. On 07 August and 12 August 2020, RvR Ventures declared the price correction in Gold and published the target levels for sell orders as (USD) 2020/1990 with a target price of (USD) 1926/1910/1888-1866 and Buy orders at (USD) 1866/1888/1926/1910, and Gold did crash till 1866 level on 12 August 2020, and from there it reversed back and rose till the level of USD 2010.00.
The algorithms’ core support and resistance levels were (USD)2070-2020-2000-1981-1966-1947-1888/1866-1777-1736-1666-1624-1555, and the same levels can be verified on the chart of XAUUSD and under the existing open and closed trading positions of RvR Ventures.
In the first set of trades, the traders at RvR Ventures opened Buy positions in Spot Gold at USD 1555 on 23 March, 2020 with target price of 1777 achieved on 06 July 2020, followed by buy positions at 1866/1888 price level on 22 July 2020 and booked profit at USD 2000.00 price on 04 August 2020. In another set of trades in buy, direction opened on 12 August 2020, from USD 1868 levels till USD 2000 level in the second phase of price rise during 12.08.2020-18.08.2020, followed by the trades in sell direction from USD 2007-USD 2000 levels.
As per the trading signals of their algorithm, in the third set of trades, they honoured the crash from USD 2000 level to USD 1990, USD 1947, USD 1926, and USD 1910 stations respectively, In the fourth set, the buy positions were opened on 04 September and 09 September 2020 at USD 1910 and USD 1926 levels with a target price of USD 1947.00. Surprisingly, Gold prices touched the level of USD 1947 more than 150 times in the last 30 days, and USD 1947 was declared as the reversal price level in buy and sell both directions by RvR Ventures in advance.