Here we are again with another chance to buy into gold with the fake break of the rising wedge in oversold conditions on the hourly charts. Nice 3 candle reversal play. We can expect it to test up to $2008 again
Gold is still trading above its long term trend line though and I expect it to take out its highs fairly soon as long as this trend line remains intact.
As an experienced trader the best advice I can give for trading is stay with the trend, dip buying wherever possible, rather than thinking the top might be in and holding shorts for too long. I'm out of shorts here and buying again
Gold is still trading above its long term trend line though and I expect it to take out its highs fairly soon as long as this trend line remains intact.
As an experienced trader the best advice I can give for trading is stay with the trend, dip buying wherever possible, rather than thinking the top might be in and holding shorts for too long. I'm out of shorts here and buying again
Trade closed manually:
We had a little pop here for some slight profits before the stop was hit. I'll wait and try again once the price action improves again
About me: I'm a retail day trader (trading since 1993). Most ideas here are for short time frames and become profitable quickly. I take profits fast as things change fast. 1-2-1 mentoring sessions available.
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Telegram coming soon.