Definition of Going Long in Gold Trading
In gold trading as trader you'll be buying one gold for another. When you buy gold in gold trading this is referred to as going long.
Going long is therefore just another term used to refer to buying of gold.
You will use gold charts to determine when to go long - you'll go long if the prices on the charts are moving in an upwards trend direction.
Go Long Gold Trade
If the price on a gold chart is going up we buy the instrument, this is also known as going long Hence going long is just another name for buying. When market trend is going upwards it is referred to as to as a bullish price trend, this is when a buy trade order is placed - Going Long Gold Trade. A bullish trend is identified by drawing an upward trend-line on a chart. The example shown & described below displays a buy trade - Going Long.
What Does it Mean to Go Long a Gold Trading instrument? - Definition of Going Long in Gold Trading
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