I am shorting gold with roughly 2.5% Stop of 1750.
Weekly starting to whip around and we keep hitting off of upward resistance.
Would be nice to get a drop off to the bottom green line of upward support.
If I do get stopped out it's not a big deal. We always play 1-3% stop.
3day is firing red with a Crossover and ema dots are firing red.
Want to see some sell off pressure to get that weekly to trigger for a nice bearish close.
Best of luck,
🥇MLT | MAJOR LEAGUE TRADER
Weekly starting to whip around and we keep hitting off of upward resistance.
Would be nice to get a drop off to the bottom green line of upward support.
If I do get stopped out it's not a big deal. We always play 1-3% stop.
3day is firing red with a Crossover and ema dots are firing red.
Want to see some sell off pressure to get that weekly to trigger for a nice bearish close.
Best of luck,
🥇MLT | MAJOR LEAGUE TRADER
Comment:
I have two upward channel resistance levels drawn (red lines) you see the multiple touches at current one and each impulse resulted in slower moves up. If the turnaround happened that resistance would be your edge play. If it broke it then you would look to head towards the next level. It would have to be parabolic move a straight shot. Need some serious bull power
Comment:
× Canceled
Comment:
*We are using symbol GLD on a short. Using price action of the price of gold as an indication
Comment:
Explaining this as I think I confused my followers of how I'm trading gold. I should of posted GLD to help guide you what to look for. ✌😁✌